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Vontobel CEO To Become Chairman

Nick Parmee

31 August 2010

Herbert Scheidt, currently chief executive officer at the Zurich-based Vontobel private banking group, will step up to be chairman in May next year. He will succeed Dr Urs Widmer, who will have reached the bank's age limit.

The board of directors has said it will reach a decision regarding the appointment of a new CEO “by spring 2011.”