Group executive management will be merged with the executive board at the head office in Vaduz in a dual role as of 1 January 2014. Going forward, the organisational structure will consist of the chief executive, client business and chief financial officer and banking services business units.

“The motivation for reducing personnel in group executive management from 1 January 2014 lies not only in new banking sector regulations, but is also driven by the set aim of establishing an efficient client- and market-oriented management structure,” VP Bank said.

Chief operating officer Juerg Sturzenegger has decided to leave the bank at the end of this year. In the past five years, Sturzenegger – in his 2009 to 2010 role as chief executive of VP Bank Ltd. and in subsequent roles – implemented “vital strategic projects and extended the range of services offered, especially in investment management and other product divisions,” the bank said.

Martin Engler, head of Private Banking Liechtenstein, Günther Kaufmann, head of intermediaries and transaction banking and Rolf Jermann, head of commercial banking – all current members of the executive board at the head office in Vaduz – will from 1 January 2014 be concentrating all their efforts on developing their respective areas of responsibility and will step down from the executive board.

The executive board in Vaduz will consist of CEO Alfred Moeckli, head of client business Christoph Mauchle and chief financial officer and head of banking services Siegbert Näscher.