Bank of Asia has appointed an external leader to become its next president. In the past, he also worked for UBS and VP Bank.
Bank of Asia has named Peter Reichenstein as its president, with effect from Friday 15 March. Based in Tortola, BVI, he replaces Wayne Yang, the bank’s former interim president, who has returned to Hong Kong to resume his duties as managing director and head of wealth management at BOA Financial Group.
«Peter Reichenstein will play a pivotal role as Bank of Asia seeks to capitalize on strong demand for digital banking services among Asian High Net Worth Individuals and offshore companies,» said Carson Wen, founder and chairman of Bank of Asia.
Working for UBS Private Bank
In his new role, Reichenstein will work closely with Carson Wen and the board to execute the bank’s strategy. Reichenstein has spent over a decade at VP Bank and Trust Company (BVI) Limited, where he was managing director and chief executive officer responsible for growing the bank’s operations in the BVI.
Prior to this, he worked at UBS Private Bank, Financial Planning & Wealth Management International. As former President of the BVI Bankers’ Association, he has also been a member of the Economic Advisory Committee to the Premier and Minister of Finance in the BVI.
Originally from Switzerland, Reichenstein completed his doctorate studies at the University of St. Gallen in 1986 and the International Executive Program (IEP) from INSEAD in 1995. He is fluent in German and English and also speaks French and Spanish. He has been domiciled in the British Virgin Islands since 2000.
