Marcuard Heritage Holding has appointed Andreas Schüpbach as its new Chairman of the Board as of March 11. He succeeds the previous chairman and company founder, Sinan Bodmer, according to a media release issued on Wednesday.

Schüpbach has already been a member of the wealth manager’s board of directors since 2018.

Broader Foundation for Strategic Decisions and Responsibility

Previously, Schüpbach worked for more than 15 years as a senior executive in private banking and has been serving clients from Eastern Europe since 1992. Until 2017, he was responsible for Eastern Europe activities at Banca della Svizzera Italiana (BSI), based in Ticino, overseeing regional teams in Zurich, Singapore, Lugano, and Geneva. Prior to that, he was Head of Private Banking at Coutts, also covering Central and Eastern Europe.

With the new appointment at holding level, strategic decision-making and responsibility will be placed on a broader footing, the statement added. The move marks another step in the company’s transformation strategy, with transformation and diversification forming the core elements of its growth and development strategy.

The company, which employs around 70 people, has offices in Zurich, Singapore, Abu Dhabi, and Limassol. Together with Alpinum Investment Management, the group manages close to 6 billion dollar in client assets, according to the statement.