The new chief executive of EFG Bank von Ernst in Liechtenstein is moving from a direct competitor to his new employer.

Swiss private bank EFG International appoints Tobias Wehrli as the new CEO of EFG Bank von Ernst (Liechtenstein), according to a statement Monday. He takes up his post with immediate effect, subject to regulatory approval, succeeding Daniel Taverna, who is appointed head of private banking in Liechtenstein at EFG.

Wehrli who has nearly three decades of experience, reports directly to Franco Polloni, head of Switzerland and Italy at EFG. Before joining EFG International, he most recently worked for Liechtenstein-based VP Bank and before that for St. Galler Kantonalbank.

In his new role, Wehrli will be based in Vaduz and will focus on further strengthening EFG's position in Liechtenstein and expanding the business. Ernst's EFG Bank is a wholly owned subsidiary of EFG International, headquartered in Liechtenstein.