Liechtensteinische Landesbank is nabbing a top executive from software firm Avaloq as its new head of technology.
The Vaduz-based bank named Stefan Alder (pictured below) as its new head of information technology, effective from October, it said in a statement on Friday. He replaces Stefan Schmidle, who is retiring.
The 44-year-old Alder has spent the past four years as information chief at Avaloq. LLB rolled out the Swiss provider's software in 2011. His departure is a setback for Avaloq CEO Juerg Hunziker, who took the top job last year as the privately-held firm prepares its next step.
Before joining Avaloq, Alder spent nearly five years with Credit Suisse and eight years at UBS, in both banks' respective IT organizations.
