The Board of Directors of VP Bank Group and CEO Alfred W. Moeckli have decided to not continue their collaboration.

Alfred W. Moeckli will relinquish all his functions as of the end of January 2019 and leave the bank to devote himself to new assignments. Dr Urs Monstein assumes the position of CEO on an interim basis.

Alfred W. Moeckli has presided over the Group Executive Management of VP Bank Group since 2013 and has developed VP Bank substantially as chief executive officer in the last approximately six years. Especially in the time following the financial crisis, Alfred W. Moeckli has made a key contribution lead the banking institute back onto a growth path.

The dissolution of the employment relationship between VP Bank and Alfred W. Moeckli takes place by mutual consent as part of an early age-related succession planning. The Board of Directors thanks Alfred W. Moeckli for his services and his major commitment.

Fredy Vogt, chairman of the Board of Directors of VP Bank Group, takes stock: “Alfred W. Moeckli has contributed significantly to a successful positioning of VP Bank in the changed environment of the financial services industry and has increased profitability. Additionally, in his time as CEO, the market capitalisation of our bank has approximately doubled.”

Dr Urs Monstein, who has been chief operating officer of VP Bank since May 2018, will assume leadership of the Group Executive Management on an interim basis with immediate effect. The search process for a successor to the departing chief executive officer has already been launched. Both internal and external candidates are being evaluated.