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In an interview with the “Neue Zürcher Zeitung” (NZZ) on Saturday, Utermann said dual leadership turned out to be the best solution. The Board of Directors believes that Vontobel has the right strategy for the next decade. “We want to signal this to the market and workforce through internal appointments.”
Vontobel announced in October that Christel Rendu de Lint, Head of Investments, and Georg Schubiger, Head of Asset Management, would take over as co-CEOs at the beginning of 2024, replacing long-time Vontobel boss Zeno Staub.
Utermann said he did not want to be executive chairman. He has been very busy over the last 18 months as he has had to organize the succession of CEO Zeno Staub. But this has now been resolved. Like some other board members, he maintains regular contact with customers. “Beyond that, I am not involved in any operational activity and I do not want to be.”
The former Allianz executive does not fear any burden on Vontobel or himself due to the trial of a former Allianz employee that begins next year in the United States. Utermann is still accused of fraudulent activities while he was CEO of Allianz Global Investors in the United States. As a result, Allianz had to pay a hefty fine in the US.
Utermann emphasized that the upcoming process is a commitment based entirely on private law, with no consequences for Allianz or senior employees. He was never questioned, either by Allianz or externally, and was not mentioned in any court documents. “So I am neither directly nor indirectly involved.”
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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