Less than a month after Mariateresa Vacalli surprisingly stepped down as CEO, Bank Cler is appointing an insider to the role.

Samuel Meyer is taking over as the new chief executive officer at Bank Cler on May 1, the company said in a statement Friday (in German). Meyer is a member of the executive board and heads the firm's sales business.

The new CEO is taking the reins from Mariateresa Vacalli, who is moving to the board of Swiss Post. Meyer has been responsible for the sales division at Cler since November 2019, and previously headed the private client business at Basler Kantonalbank, the parent company of Bank Cler.

Bank Cler has had three CEOs in five years, as finews.com recently wrote.