Peter Stocker, head of Asset Management at VZ Group has decided to step down from his position. He will leave the executive board and concentrate on the business with institutional clients.
The board of directors have appointed Manuel Ruetsche as a replacement for Stocker. Ruetsche has been with VZ since 2004 and is in charge of VZ quant portfolio services.
VZ Group announced the change during the announcement of its half-year results. The bank continued growth despite challenging environment. Its assets under management increased from CHF21.77bn to CHF22.63bn in H1 2018.