The bank, located in the European principality, which has been building a presence in regions such as Asia, has a new intermediaries and private banking boss, taking over as his predecessor prepares to step down.

Liechtenstein-based VP Bank has appointed Tobias Wehrli as head of intermediaries and private banking, starting on 1 July. He will take the reins from Christoph Mauchle, who is leaving the bank at the end of September.

Wehrli has been intermediaries head at the firm since 2015. Prior to that, he was desk head for external asset managers at St Galler Kantonalbank and a partner at Financial Architects Switzerland. He began his career in 1993 at UBS, before switching to Credit Suisse Group in 2001. 

As for his academic background, Wehrli has an executive MBA from FH St Gallen and a business degree from FHS St. Gallen. He lives in Liechtenstein and his wife is a Liechtenstein citizen.

“With his specialist expertise and management experience, he will contribute to VP Bank's ability to continue offering its clients particularly attractive investment solutions,” Paul Arni, VP Bank’s chief executive, said. “I would also like to thank Christoph Mauchle in the name of the executive management and the board of directors for his many years of dedicated work and valuable contribution towards the development of VP Bank. He successfully positioned the client business and helped to realise a sustained increase in VP Bank’s profitability and competitiveness.”

To see a story about recent Asia hires by VP Bank, click here.

Last July, Liechtenstein’s VP Bank embarked on a joint wealth management platform in Hong Kong with Hywin Wealth Management (China), pitched at onshore and offshore service offerings. The move continued a pattern of Asian partnerships with European banks, particularly banks in Switzerland.

In 2017 Hywin Capital (UK), part of Hywin Financial Holding Group, bought Azure Wealth, a UK-based wealth management house. 

At the end of March, VP Bank warned that it would adjust one of its loan portfolio holdings by about SFr20 million ($20.9 million) because of the virus pandemic. The bank said that followimg stress tests done in recent days on outstanding loans it did not need to put more money aside.