Avaloq is losing its market head in Switzerland and Liechtenstein and head of its wider sourcing arm. The move comes as the banking software firm moves towards a listing or other handover in ownership.
Tobias Unger is leaving Avaloq, the company confirmed to finews.com on Tuesday. The Swiss banker spent less than three years with the company, joining after the 1MDB scandal mushroomed at Falcon Private Bank three years ago.
The 42-year-old Unger decided to «step down at Avaloq in order to pursue other career options,» a spokeswoman for the company said. Neither Unger nor the company have set a hard leaving date, and he will remain in his job in coming months in order to hand over to his eventual successor. Avaloq said it expects to have a replacement lined up in coming months.
No New Role
Avaloq hired Unger to replace Markus Groeninger as head of sourcing after he left Falcon in 2016. Last year, he added the regional management of Switzerland and Liechtenstein to his remit. The move vaulted him into top management under CEO Juerg Hunziker, who took over the reins from founder Francisco Fernandez last year.
The exit of Unger, who was Falcon's operating chief and deputy CEO until September 2016, was first reported by Swiss banking blog «Inside Paradeplatz» (in German). The banker doesn't have a new job lined up, according to a person familiar with his plans. Unger wasn't available to comment to finews.com.
