VP Bank AG named Monika Vicandi to its group executive management and said she will run the bank's new general counsel and chief risk officer organizational unit, effective Jan. 1, 2017.

Vicandi is currently head of group legal, compliance and tax, which will be merged with the group risk division. The role of general counsel is to be merged with that of chief risk officer.

In addition, the bank will create an investment solutions organizational unit, to be formed by merging the group investment, product and market management and fund solutions areas. A recruitment process is underway to select a head of the division, which will be run on an interim basis by Christoph Mauchle, head of client business.