VP Bank Promotes Singapore Executive
Liechtenstein-headquartered VP Bank has announced the promotion of an executive in Singapore.
VP Bank has appointed Michel Hofstetter as head of intermediaries and private banking Singapore, according to a statement.
Hofstetter takes on the expanded role after being head of intermediaries Singapore since 2024. Prior to joining VP Bank in 2022, he spent 23 years at Julius Baer where he also focused on the intermediary segment, which includes external asset managers.
According to VP Bank, the latest appointment «strengthens the bank's leadership team and sharpens its strategic focus on client coverage and operational optimization across Asia». Following initiatives aimed at improving cost discipline, VP Bank saw its bottom line rebound sharply with a 150.2 percent year-on-year increase in its first-half profit to 28.8 million Swiss francs ($35.8 million).
