Mr. Monstein, congratulations on your promotion. Were you surprised?
No, it would be incorrect to say that. I’ve been in close contact with Stefan Zimmermann, our Chairman of the Board and was aware that my name was being considered. However, I did not actively apply for the CEO position.

So, can you confirm reports suggesting that shareholders chose you because they value continuity?
I wasn’t part of those discussions, but I assume continuity played a key role. After all, I’ve been with VP Bank for quite some time and was deeply involved in the development of our efficiency measures.

These efficiency measures are significant: 100 positions were cut, and the Hong Kong office was closed. Where does VP Bank stand in this process?
We’re on track. The organization has been adjusted to bring us even closer to our clients. I see substantial potential for our business moving forward.

VP Bank primarily positions itself as a bank for intermediaries. Is that still the case?
The intermediary business remains a crucial pillar and enables us to be active in private banking.

«The mere fact that the CEO position is now resolved positively impacts our client relationships.»

We have established a strong position in the intermediary business thanks to our expertise. I see particularly good opportunities for us in Singapore.

In our last conversation, you mentioned client uncertainty due to recent developments. What’s the situation now?
The fact that the CEO position has been clarified is already having a positive impact on our client relationships.

But you’ve experienced significant staff departures, particularly in Zurich. How has that impacted your team?
Departures are part of the business. The team that recently left had joined us seven years ago from another bank.

These aren’t the only recent departures in Zurich. Is the Zurich office in jeopardy?
We will certainly not give up on Zurich – it plays a crucial role for VP Bank. We operate in four key hubs: Liechtenstein, Zurich, Singapore, and Luxembourg. We aim to strengthen this network further.

How challenging is it to attract new talent in the current situation?
It’s much easier than it was two or three years ago. Even without posting job openings, we’ve had candidates approach us.

Does this have to do with developments in the financial sector, such as the Credit Suisse integration?
Absolutely.

What are you doing to restore calm within the team?
I talk to people.

You don’t seem overly concerned by the current situation. Is that an accurate observation?
Yes, it is.

«Of course, it would be nice if everything went smoothly, but then managers like us wouldn’t be needed anymore.»

Where does this composure come from?
Experience definitely helps. I’ve seen many ups and downs in my career. Moreover, I have a deep belief in this bank: VP Bank has an excellent service platform—clients repeatedly confirm this—and we have talented employees. These are two essential elements for success.

Isn’t it frustrating that VP Bank is now paying for past management mistakes?
That perspective is too narrow for me. Geopolitical changes have also contributed to this situation. Of course, it would be nice if everything went smoothly, but then managers like us wouldn’t be needed anymore. (laughs)