VP Bank parted ways with its chief financial officer in 2020 following a massive write-down – today it announced the appointment of a successor. The new CFO was formerly in the pay of Credit Suisse and UBS.
The board of directors of VP Bank has appointed Roger Barmettler as chief financial officer (CFO) and member of group executive management as of the beginning of March 2021, according to a statement on Friday.
According to the company, Barmettler is a proven financial expert; he has many years of experience in the banking industry and in finance. He has served as head of group finance at VP Bank since January 2020 and has held the position of CFO ad interim of VP Bank Group since June 2020.
Pandemic Turmoil
In 2020, VP Bank had to take a value adjustment of 20 million francs on a single position in the wake of the stock market turmoil. As a consequence, it parted ways with its longtime CFO Siegbert Naescher as well as risk head Monika Vicandi.
Prior to joining VP Bank, Barmettler held various management positions in accounting, reporting, and auditing at UBS and later Credit Suisse. He began his career at KPMG Fides Peat in Zurich and Philadelphia as an audit expert. He holds a Bachelor of Science degree from the Lucerne University of Applied Sciences and Arts and a degree in auditing from the Zurich Chamber of Trustees.
