Group Chief Operating Officer (COO) Kurt Maeder is leaving the bank to pursue a new career path, LLB said in a statement on Monday. Maeder, who as group COO was responsible for corporate development, IT as well as group operations and services, will leave in mid-May, it said.

Maeder introduced the Avaloq banking software system at LLB, was responsible for the shared service centers and played a key role in driving the lean-management-structure and the group’s digitization program.

CEO Roland Matt and his deputy Urs Mueller will take over the COO responsibilities on an interim basis. The bank will announce a successor in due course.