The global co-chief of Zurich-headquartered Avaloq is retiring after more than a decade with the banking software firm.

Avaloq co-CEO Thomas Beck is stepping down from his position on the firm’s group executive board for retirement, according to a statement. Beck first joined the company in 2012 and has held various senior management positions while playing a pivotal role in driving strategy, international expansion and innovation activities. He was named co-CEO in April 2021.

Martin Greweldinger will take over as the sole group CEO of Avaloq. Greweldinger has over 20 years of experience across global financial and consulting firms. He joined Avaloq in 2019 and was named co-CEO alongside Beck in 2021. During the transition period, Beck will be available in a senior advisory capacity to Greweldinger.