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People Moves: Vontobel, KfW

A COO is appointed, while a treasurer waits in the wings


Kirsten Hastings

Vontobel names COO

On 1 September 2020, Andreas Heinrichs will take over as chief operating officer of Bank Vontobel Europe, Munich, the Vontobel platform for business in Germany, the European Union (EU) and European Economic Area (EEA).

He succeeds Bernhard Heye, the former chief executive of Bank Vontobel Europe, who assumed the role of chief operating officer ad interim in mid-December 2019 after his predecessor left the company.

A trained banker and business graduate, Heinrichs joined Vontobel in 1999 from private bank Sal. Oppenheim jr & Cie, where he built up the German equity sales and research team during his time in Cologne.

He has been a member of Bank Vontobel Europa’s management board since 2009 and headed the brokerage business.

Following Vontobel’s strategic growth decision at the beginning of December to position itself exclusively as a client-focused buy-side investment manager and to discontinue its global brokerage business, Heinrichs will take over the new role based in Munich and Frankfurt as part of this new strategic positioning.

KfW appoints treasurer

Tim Armbruster will join German state-owned development bank KfW on 1 March 2020 and then take over the role of treasurer of KfW Group on 1 May 2020.

He will succeed Dr Frank Czichowski, who is retiring after 30 years at KfW.

Armbruster’s responsibilities will include the asset/liability management of the bank, the funding of KfW as one of the world’s largest issuers of the sovereigns, supra-nationals and agencies (SSA) segment on the global capital markets, as well as the management of KfW’s fixed-income portfolios.

He brings with him 20 years of experience having held a variety of treasury roles at Eurohypo, Commerzbank and Deutsche Pfandbriefbank.