Zeno Staub Steps Down as Vontobel CEO

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.

Source: Vontobel