Stefano Fiala has been named the new CEO of Veco group, fiduciary and multifamily office.

Alongside the new role, Fiala is also a member of the group board of directors, the firm announced on Tuesday.

Fiala would be succeeding Antonio Mandrà, who stepped down to pursue international projects.

Alongside the duties of the CEO, he will continue working as a chairman of affiliated boutique Bluestar Investment Managers and CEO of group’s Invest unit. They offer wealth management services.

“This change reflects the shareholder’s purpose to give a new direction to the management of the Group for a potential future growth. Further developments will be announced soon,” stated the company in their recent statement.

Fiala has been with Veco for over sixteen years and has spend eight years at Banca del Gorrardo, moving up to the position of head of portfolio management.

According to Mandrà’s LinkedIn, he was with the group since 1996.