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Urs Monstein heads VP Bank as interim CEO

10 May 2024
Vaduz - Paul Arni has resigned as CEO of VP Bank. He is handing over his duties to Urs Monstein with immediate effect. The former Chief Operating Officer will manage the bank on an interim basis. The search for Arni's successor has begun.

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VP Bank is changing its leadership. Paul Arni is handing over the role of CEO to Urs Monstein with immediate effect, the bank announced on 8 May. The Swiss national, born in 1962, has been COO of the bank since May 2018. He previously spent 11 years working for Julius Baer, most recently as Global Head IT and Chief Information Officer. Monstein studied at the University of St.Gallen and entered the banking business via the former Union Bank of Switzerland. He will lead the bank as interim CEO. The search for Arni’s successor has begun, the bank writes.

Arni has managed the bank since October 2019. He is handing over the leadership «at a time when VP Bank is in a solid position with a sound foundation that will enable it to successfully pursue the Group’s strategy in the second half of the year.» The Board of Directors thanks Arni «for his great commitment.» The Board of Directors has been chaired by Stephan Zimmermann since 26 April. The former UBS banker was elected to the Board of Directors in 2023.

VP Bank posted an operating income of 364.4 million francs in 2023, an increase of 8.3 per cent. Profit rose by 10.1 per cent to 44.2 million. The cost/income ratio was 86.0 per cent, an improvement of 0.6 percentage points. ce/stk