Germann Wiggli succeeds Marc Reimann as Chairman of the Board of Directors of Bank Wir. He was elected by electronic ballot at this year's Annual General Meeting, as detailed in a press release issued on Tuesday.

Reimann stepped down from the Board of Directors due to the term limit. Wiggli held various leadership roles at Bank Wir over many years, serving as CEO from 2006 to 2019. He has remained on the Board of Directors since stepping down.

In addition, Heinz Fuchs was no longer available for a further term of office due to his planned retirement, according to the statement. The two vacant seats on the Board of Directors have been filled by new members Daniel Hug and Yvonne Seiler Zimmermann.

Hug is the owner and managing director of an independent investment consulting firm with an affiliated fiduciary company in Zurich and an auditor. Seiler Zimmermann is Professor of Finance at the Institute of Financial Services Zug IFZ at Lucerne University of Applied Sciences and Arts. The other members of the Board of Directors were re-elected.

Higher Dividend After Record Result

The AGM also approved a 2.3 percent increase in the dividend to 11 Swiss francs per share certificate. Shareholders can choose between a dividend with reinvestment or a cash distribution.

Bank Wir closed 2024 with a record profit of 17.5 million francs. This, as well as encouraging growth in mortgage loans and customer deposits and total assets of 6.6 billion francs, marked another milestone in the company's development, the bank continued.