Member firm Bank of Asia, the first digital bank in the British Virgin Islands (BVI), recently announced the appointment of Dr. Peter Reichenstein as President, effective 15th March 2019.
Dr. Reichenstein will work closely with the Bank’s Founder and Chairman Carson Wen to execute the organization’s strategy in providing core banking services to offshore companies, trusts, and high net worth individuals.
He has spent more than a decade at VP Bank, where he served as Managing Director and Chief Executive Officer, responsible for growing the Bank’s BVI operations. He has also served as former president of the BVI Banker’s Association and a member of the Economic Advisory Committee to the Premier and Minister of Finance. Prior to his work in the BVI, he worked at UBS Private Bank, Financial Planning.
Originally from Switzerland, Dr. Reichenstein completed his doctorate studies at the University of St. Gall in 1986 and the International Executive Program (IEP) from INSEAD in 1995. He is fluent in German and English and also speaks French and Spanish.
Commenting on the appointment, Wen said: “I am delighted that Peter is joining Bank of Asia as President. He brings more than 30 years of banking experience, including a decade based in the BVI, and has an exceptional reputation for serving customers and growing businesses. Peter will play a pivotal role as Bank of Asia seeks to capitalise on strong demand for digital banking services among Asian High Net Worth Individuals and offshore companies. On a final note, I would like to thank Wayne for his stewardship of the Bank in the BVI.”
Adding further, Dr. Reichenstein said: “Bank of Asia is an exciting opportunity for me as a senior banker to contribute some of my experience in international and local banking to a new, exciting web-based banking institution with great potential for rapid growth.”
Dr. Reichenstein replaces Wayne Yang, who returns to Hong Kong to continue his duties as Managing Director and head of Wealth Management at BOA Financial Group.