VP Bank's head of private banking is poised to exit, finews.asia has learned. The Liechtenstein-based bank is looking for a successor.
Christoph Mauchle, head of client business at VP Bank, is retiring from the Liechtenstein wealth manager, a person familiar with his exit told finews.asia. VP poached the 58-year-old Swiss banker from Credit Suisse in 2013 to oversee its wealth management arm as well as business with intermediaries, which forms a huge part of its client base.
Under Mauchle, VP had dramatically boosted staffing in Asia and clinched a wealth tie-up in Shanghai. The region has been of particular focus after Thomas Meier, Julius Baer's ex-Asia boss, joined VP's board nearly two years ago.
2025 Plan Due
VP Bank confirmed the move in a statement released two hours after finews.com's report. «Christoph Mauchle will continue to hold his function until the succession arrangements have been completed,» the bank said. VP Bank has begun a succession search for Mauchle, but isn't expected to present a new client head for several more months, the source said.
His exit will be the first notable one in the six-person top management under CEO Paul Arni. The Swiss wealth veteran took the top job at VP five months ago and is due to present new five-year targets for the bank on March 10.
