VZ Group has appointed a new chief financial officer to succeed Philipp Marti, who leaves the company for personal reasons.

VZ Group, a Zurich-based financial service company, has appointed Rafael Pfaffen as its new chief financial officer, it said in a statement today.

Philipp MartiPhilipp Marti (pictured left), will leave VZ Group on October 1, 2017 for personal reasons. Marti will remain available to help ensure a smooth transition until the end of March, 2018, VZ Group said. The incumbent CFO was at VZ Group for 15 years.

His successor has already been in charge of finances at VZ Depository Bank for the past ten years, when he joined VZ. Previously he worked for Swiss Re as an analyst and controller.