VP Bank has promoted Will Wang as its new head of VP Wealth Management Hong Kong, while Reto Marx returns to Singapore for a new role. The changes are effective from 1 April, according to a 2 April statement from the bank. Marx will step down from his current role as Hong Kong head for VP Wealth Management, to assume the role of chief risk officer Asia and ad interim Asia head of product and solutions.

Marx?s newly-created role comes as the bank looks to strengthen its risk management bench in Asia. He will be responsible for risk management advisory and governance matters, overseeing the bank?s operational risk, legal and compliance functions in Asia. Wang was previously head of alternative solutions.

In his new role, he will support the bank?s business expansion opportunities in Hong Kong and Greater China. He retains his responsibilities as head of strategic partnerships in Asia and continues to report to Pamela Phua, the bank?s Asia CEO. Phua said in December that the Liechtenstein bank is open to growing inorganically should the opportunity fit.

Wang joined VP Bank in 2021 and was previously the head of the Chartered Alternative Investment Analyst Association (CAIA) Hong Kong Chapter. Marx has been with VP Bank since 2019 and was previously at UBS Global Wealth Management as Apac regional head for global financial intermediaries.