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Zeno Staub intends to become more actively involved in Swiss politics and announces that he will step down as CEO of Vontobel at the General Meeting of Shareholders 2024

Published on 24.05.2023

  • CEO succession to be determined by the end of 2023
  • Zeno Staub will wait for one year before standing for election as an ordinary member of the Board of Directors of Vontobel at the General Meeting of Shareholders 2025
  • Felix Lenhard will step down from his operational role as Chief Operating Officer (COO) at the end of 2023 and will retain his ties to the company to ensure an orderly transition

After 22 years at Vontobel, including 20 years as a member of the Executive Committee and 12 years as CEO, Zeno Staub has informed the Board of Directors of his wish to step down from his role at the next General Meeting of Shareholders on April 9, 2024, in order to become more actively involved in Swiss civil society. Zeno Staub intends to represent the Arbeitsgemeinschaft Wirtschaft und Gesellschaft (AWG) of the Canton of Zurich and stand as its lead candidate for “die Mitte” in the elections to the Swiss National Council in fall 2023.

“Switzerland has been shaped to a significant extent by its ‘militia’ system of politics. This is a key reason why the country has been able to maintain a high level of confidence in its state institutions and to preserve national unity and stability despite its diversity and the different languages spoken within its borders. This creates benefits for the Swiss financial center and ultimately also for Vontobel. After two decades in leadership functions at Vontobel, I have decided to give something back to the country and the people of Switzerland in recognition of what they have enabled me to achieve. Further, I wish to focus more intensively than before on strategic duties and to align my business commitments accordingly. It has been a great privilege and a pleasure to work for Vontobel. In today’s changing world, Vontobel remains very well positioned as a globally active, client-centric investment firm. I remain fully committed to working with my colleagues in the Executive Committee in the months ahead as we move forward with the implementation of our long-term ambition and our 2024 mid-term targets. By announcing my personal plans at an early stage, I want to help ensure a good, seamless transition for the benefit of Vontobel,” said Zeno Staub, CEO of Vontobel.

Zeno Staub’s successor as CEO is to be determined by the end of 2023 by means of a professional appointment process that will consider both internal and external candidates.

Zeno Staub will retain his ties to Vontobel. At the suggestion of the Board of Directors, he is to stand for election as an ordinary member of the Board of Directors at the General Meeting of Shareholders 2025 after a one-year cooling-off period. Zeno Staub has served as a member of the Board of Directors of Bühler Group since October 2022.

“Under Zeno Staub’s leadership, Vontobel has successfully developed into a leading, focused Swiss investment firm that is at its clients’ side, offering them its global investment expertise. Vontobel is committed to its capital-light, risk-conscious growth policy that is focused on long-term success. It will continue to pursue this direction in the future with its strong management team. On behalf of the Board of Directors, I would like to thank Zeno Staub for his great dedication to Vontobel and I look forward to continuing to work closely with him in the coming months. I am also pleased that he will retain his close ties to Vontobel and that he has expressed his willingness to stand for election as an ordinary member of the Board of Directors in 2025. After more than 20 successful years at Vontobel, we respect his wish to become more actively involved in politics in the spirit of the Swiss ‘militia’ system and to serve the country. It is a sign of a strong democracy when citizens such as Zeno Staub, who can look back on a long and successful career in business, want to assume a political role. We wish Zeno Staub every success in his endeavors,” stated Andreas E.F. Utermann, Chairman of the Board of Directors of Vontobel.

Felix Lenhard, COO and a member of the Executive Committee of Vontobel Holding AG and of Bank Vontobel AG, has informed the Board of Directors of his wish to step down from his operational role as COO at the end of 2023. This will allow him, among other things, to devote more time to his family in the future. To ensure an orderly transition, Felix Lenhard will retain his ties to the company beyond that date. His successor in the post of COO will be determined by the end of 2023 by means of a professional appointment process that will consider both internal and external candidates.

Felix Lenhard can look back on a successful career during which he has spent more than 22 years working for Vontobel, including 13 years as COO and a member of the Executive Committee. Under his leadership, Vontobel systematically drove forward its digital transformation and thus invested in growth opportunities at an early stage. Vontobel today has modern IT platforms in place across all its areas of business that provide optimal support for its global operations. In addition, modern and scalable technology forms the basis for its efficient and effective banking business and ultimately also for the expansion of its hybrid offering for tech-savvy Vontobel clients.

“After many successful years at Vontobel, we respect Felix Lenhard’s wish to devote more time to his family in the future. On behalf of the Board of Directors, I wish to already take this opportunity to thank him for everything he has achieved at Vontobel. Felix Lenhard and his team have made a major contribution to Vontobel’s success in recent years. Powerful, reliable modern technology is today one of the key drivers of growth and success. We will continue to invest in modern technology in the future in order to deliver first-class client service and future growth,” stated Andreas E.F. Utermann.

  

Media Relations

peter.dietlmaier@vontobel.com
+41 58 283 59 30

urs.fehr@vontobel.com
+41 58 283 57 90

Investor Relations

peter.skoog@vontobel.com
+41 58 283 64 38

jessica.bruegger@vontobel.com
+41 58 283 73 58

  

Vontobel
At Vontobel, we actively shape the future. We create and pursue opportunities with determination. We master what we do – and we only do what we master. This is how we get our clients ahead. As a globally active investment manager with Swiss roots, we specialize in wealth management, active asset management and investment solutions. We harness the power of technology to deliver a high-quality, individual client experience and to deploy our investment expertise across multiple platforms and ecosystems. We empower our employees to take ownership of their work and bring opportunities to life. We do so based on the conviction that successful investing begins with the assumption of personal responsibility. We continuously scrutinize our achievements as we strive to exceed the expectations of our clients. The registered shares of the Vontobel Holding AG are listed on the SIX Swiss Exchange. The Vontobel families' close ties to the company guarantee our entrepreneurial independence. We consider the resulting freedom as an obligation to also assume our social responsibility. As of March 31, 2023, Vontobel held CHF 268.0 billion of total client assets. Around the world and in our home market, we serve our clients from 27 locations.

Legal information
This press release is provided purely for informational purposes and is expressly not directed at persons whose nationality or place of residence prohibits access to such information on account of existing legislation. The information and views contained in it do not constitute a request, offer, or recommendation to use a service, to buy or sell investment instruments, or to conduct other transactions. Forward-looking statements, by their nature, involve general and specific risks and uncertainties. It should be noted that there is a risk that forecasts, predictions, projections, and results described or implied in forward-looking statements may not prove to be correct.

  

Categories

Ad hoc announcement pursuant to Art. 53 LR
Media release

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