A longtime employee is stepping into the CEO role at Bendura Bank.

Bendura Bank is nominating Markus Federspiel to replace Peter Krenn as its CEO, the bank said in an emailed statement Tuesday.

Federspiel, who joined the bank 14 years ago, last served as its chief customer officer. He also sits on the management board.

The statement did not say where Krenn, who was the bank's CEO for two years, will be heading.