The Liechtenstein-based bank announces a number of top-level changes to its executive line-up.

Chief operating officer of Liechtenstein-based VP Bank, Martin Beinhoff, will leave the group at the end of June 2017. Beinhoff is also member of group executive management.

Effective as of 1 July 2017, chief executive Alfred Moeckli and chief financial officer Siegbert Nascher will co-head the COO business unit on an interim basis, the firm said in a statement yesterday.

During his time at VP Bank, the COO was responsible for group credit, group operations and group information technology. 

The bank said that Beinhoff played a big part in the group’s growth, as he “enhanced the efficiency and transparency of key administrative processes, and resolutely pursued cost synergies”.

“On this occasion, the board of directors would like to express its sincere thanks to Martin C. Beinhoff for his strong commitment and achievements on behalf of the Bank,” VP Bank added in the statement.

The search for Beinhoff’s successor has begun and the bank said information regarding this shall be provided at the “appropriate time”.