Peter Stocker, the head of VZ Asset Management, has stepped down from his role to focus on advising institutional clients at VZ Group, the firm has announced.
The board of directors has appointed Manuel Rütsche as his successor, effective as of 1 September 2018. Rütsche has been working at VZ Group since 2004 and is CEO of its subsidiary, VZ Quant Portfolio Services. He is also in charge of rule-based wealth management at VZ.
The group has also announced its results for the first half of 2018, recording a net profit increase of 10.3%. CEO Matthias Reinhart said he expects earnings and profits to increase further in the coming months.