Germany is the largest private banking market in Europe and for several years has been an important target market for Liechtenstein's VP Bank. Now, the Vaduz-based financial group has filled the newly created position of team leader for private banking in Germany in Liechtenstein with Marcel Seger.

Since February 1, Seger has been leading a team of five employees at the head office in Vaduz, who look after German clients from Liechtenstein, according to a report in «Private Banking Magazin» (in German). While a team responsible for Germany has existed in Vaduz for some time, the team leader position is a newly created one, a media spokesman for the bank confirmed to finews.com.

Homegrown Talent

The appointment doesn't change the organizational structure in private banking with overall market responsibility for Germany remaining with VP Bank Europe in Zurich, with the Lichtenstein team operating in parallel with the Swiss unit. Among other things, Seger's team is to further expand the German business from Liechtenstein, and several VP Bank events in Germany are planned for this year.

With Seger, the Liechtenstein-based bank is relying on homegrown talent. After completing his training at VP Bank, he worked for the financial group as a client advisor for cash services and personal banking. For the past five years, he has been active as a client advisor in international private banking.