Torsten Ries takes the reins from Eduard von Kymmel as CEO of VP Fund Solutions
10 November 2020 Luxembourg
Image: Sergey Novikov/Adobe Stock
Torsten Ries has been appointed CEO of VP Fund Solutions (Luxembourg) at VP Bank Group.
The new appointment follows the announcement that Eduard von Kymmel, the current head of VP Fund Solutions of VP Bank Group and CEO of VP Fund Solutions, will step down from his position at the end of 2020.
Kymmel, who will be available to VP Fund Solutions until the end of March 2021 to train his successor Ries, explained he is stepping down in order to become an independent member of the board of directors with his own fund governance consultancy.
Ries joined VP Fund Solutions in 2013 and has been a member of the executive board of VP Fund Solutions in Luxembourg since 2019.
In 2016, he also took on the responsibility for the private equity and real estate division at VP Fund Solutions.
Meanwhile, Ralf Konrad, who has been chair of executive management VP Fund Solutions (Liechtenstein) AG since 2016, will remain in his role.
However, Konrad will now report to head of client solutions Thomas von Hohenhau member of the group executive management instead of Kymmel.
Konrad has worked at VP Fund Solutions (Liechtenstein) AG since 2013 and has been CEO since 2016.
Paul Arni, CEO of VP Bank Group, and Thomas von Hohenhau, head of client solutions of VP Bank Group, said they regret the departure of Kymmel and thank him for his dedicated and valuable work.
The new appointment follows the announcement that Eduard von Kymmel, the current head of VP Fund Solutions of VP Bank Group and CEO of VP Fund Solutions, will step down from his position at the end of 2020.
Kymmel, who will be available to VP Fund Solutions until the end of March 2021 to train his successor Ries, explained he is stepping down in order to become an independent member of the board of directors with his own fund governance consultancy.
Ries joined VP Fund Solutions in 2013 and has been a member of the executive board of VP Fund Solutions in Luxembourg since 2019.
In 2016, he also took on the responsibility for the private equity and real estate division at VP Fund Solutions.
Meanwhile, Ralf Konrad, who has been chair of executive management VP Fund Solutions (Liechtenstein) AG since 2016, will remain in his role.
However, Konrad will now report to head of client solutions Thomas von Hohenhau member of the group executive management instead of Kymmel.
Konrad has worked at VP Fund Solutions (Liechtenstein) AG since 2013 and has been CEO since 2016.
Paul Arni, CEO of VP Bank Group, and Thomas von Hohenhau, head of client solutions of VP Bank Group, said they regret the departure of Kymmel and thank him for his dedicated and valuable work.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
