Liechtenstein’s VP Bank bags fintech CEO for client solutions unit
VP Bank, one of Liechtenstein’s largest banks, has created a new client solutions unit in its fund division and appointed a fintech CEO to lead it.
Thomas von Hohenhau is the Swiss CEO of Hamburg-based fintech, Deposit Solutions. He will take a seat on VP Bank’s executive board.
He is tasked with leading the bank’s new arm from September and will take on the new title of ‘head of client solutions’.
Goals of the new unit
The bank intends for the new client solutions unit to create access to new investment opportunities.
These new opportunities supplement VP Bank’s existing fund solutions, focusing on investment products in the private market.
“The aim is to open up another pillar with new business opportunities in addition to the established business with intermediaries and private customers,” says the bank in a statement.
The unit will carry revenue and results responsibilities.
New fintech CEO
Von Hohenhau headed up Deposit Solutions’ launch in Switzerland back in 2016.
The fintech helps banks bring in new deposits and has just launched its offering in the US.
The start-up’s open banking solution connects customers to around 100 banks. It operates across 20 European countries, has 30 million depositors on the platform and holds roughly €25 billion in deposits.
Before Deposit Solutions, Von Hohenau headed up international portfolio management at Swiss private bank, Julius Baer.
VP Bank’s CEO Paul Arni hails the fintech CEO as a “well-connected financial expert”. He also says his “international outlook” suits the aims of the new unit.
“Internationality and agility give VP Bank a significant competitive advantage in the transformation of wealth management,” adds Von Hohenau.