Bank of Asia Appoints Senior Banker Dr. Peter Reichenstein as President

Bank of Asia (BVI) Limited (the “Bank”), one of the world’s first fully digital global cross-border banks and the first digital bank in the British Virgin Islands (“BVI”), today announced the appointment of Dr. Peter Reichenstein as President effective 15 March 2019. Based in Tortola, BVI, he replaces Wayne Yang, the Bank’s former Interim President, who has returned to Hong Kong to continue his duties as Managing Director and Head of Wealth Management at BOA Financial Group.

Peter will work with Carson Wen, Founder and Chairman of Bank of Asia, and the Board to execute the Bank’s strategy in providing core banking services to offshore companies, trusts, and high net worth individuals from around the world.

Peter spent more than a decade at VP Bank and Trust Company (BVI) Limited, where he was Managing Director and Chief Executive Officer responsible for growing the Bank’s operations in the BVI. Prior to this, he worked at UBS Private Bank, Financial Planning & Wealth Management International. A former President of the BVI Bankers’ Association, he has also been a member of the Economic Advisory Committee to the Premier and Minister of Finance in the BVI.

Commenting on the appointment, Carson 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.”

“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,” Peter Reichenstein said.

Originally from Switzerland, Peter 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. He has been domiciled in the British Virgin Islands since 2000.