VP Bank in Singapore Awarded Best Private Bank in Asian Private Banker Awards for Distinction 2020

HONG KONG SAR - Media OutReach - 18 January 2021 - VP Bank Ltd Singapore Branch has been awarded 'Best Private Bank -- Intermediary Services' in the Asian Private Banker Awards for Distinction 2020. The win is testament to the bank's long-standing expertise and commitment to financial intermediaries across the Asia-Pacific region.

 

As a valued partner for intermediaries, VP Bank's unique services make up for more than half its business - unlike any other bank. These services come under the bank's hybrid business model, where basic banking services, on behalf of end-customers, are designed to be as efficient, dependable and cost-effective as possible. These services are further complemented by VP Bank's fund solutions offerings and IT infrastructure, such as the VP Bank e-banking^PLUS platform.

 

"We are honoured to accept this award from the Asian Private Banker, and I am thankful to our colleagues, clients and partners for their support and trust that has helped us achieve this recognition. We are in a strong position to expand our network, and offer excellent services for external asset managers, family offices and trustees," said Thomas Jost, Head Intermediaries at VP Bank Ltd Singapore Branch.  

 

"In Asia, VP Bank is well-placed to provide our clients with an integrated offering through our Singapore wealth hub, drawing on our global expertise, ecosystem of partners and long-standing experience in serving our Intermediaries and Private Banking clients. " added Reto Marx, Head Intermediaries & Private Banking.

 

Bruno Morel, VP Bank's Singapore Branch CEO, underscored the growing importance of the Bank's Asia business to be its partnership with Hywin Wealth Management Co Ltd., offering VP Bank the opportunity to build up business activities in the Chinese market and advance VP Bank's Asia strategy together with a highly professional and reputable partner in China. In 2021, VP Bank will be intensifying the partnership with Hywin Wealth by continuously advancing business activities together in this attractive region. Most recently, VP Bank has also announced that it will be accelerating its digital transformation as an important milestone and key component of its Strategy 2026.

 

Commenting on VP Bank's win, editor of Asian Private Banker, Sebastian Enberg who also chairs the judging panel for the Awards for Distinction said, "VP Bank's patent commitment to Asia's independent asset management community is well evidenced by its continued and meaningful investments in servicing, solutions, and digital capabilities, with the intent of supporting Independent Asset Managers and their clients beyond their traditional banking needs. This dedication is laudable in an industry where IAMs are not typically viewed as a core business priority, let alone partners. And it's yielding results. In 2020 -- and amid challenging conditions -- VP Bank in Asia realised a marked increase in the quality of its IAM relationships, including in North Asia, healthy new asset inflows, and further added to its team of Intermediaries specialists, thereby distinguishing itself in a highly competitive space."

 

The Asian Private Banker Awards for Distinction sets the benchmark for excellence in private wealth management in the region. The judging panel includes members of Asian Private Banker's editorial team.

Facts & Figures - VP Bank Group

VP Bank Ltd was founded in 1956 and is one of the largest banks in Liechtenstein with 979 employees at the mid-2020 (full-time equivalent 908). It currently has offices in Vaduz, Zurich, Luxembourg, Singapore, Hong Kong and Road Town on the British Virgin Islands. VP Bank Group offers bespoke asset management and investment consultancy for private individuals and intermediaries. Due to the open architecture, clients benefit from independent advice: The products and services of leading financial institutions as well as in-house investment solutions are included in client recommendations. VP Bank is listed on the Swiss stock exchange SIX, and has an "A" rating from Standard & Poor's. The bank has a sound balance sheet and capital base. Its anchor shareholders take a long-term view, guaranteeing continuity, independence as well as sustainability.

 

Facts & Figures - VP Bank Ltd Singapore Branch

VP Bank Ltd Singapore Branch is a boutique private bank with a client-centric business philosophy. With a presence in Singapore since 2008, it is the Asian branch of the Liechtenstein-based VP Bank Group.

 

VP Bank Ltd Singapore Branch provides specialised wealth management solutions and family office services for high-net-worth clients and professional asset managers and is dedicated to the protection and growth of clients' wealth. The bank offers a holistic suite of services in wealth management. Apart from private wealth management, VP Bank Ltd Singapore Branch provides comprehensive services for asset managers and other financial intermediaries. The service offering comprises a trading platform, banking services - including e-banking and mobile banking - and operational support. Partnership arrangements with professionals include tailor-made investment advisory, discretionary management solutions, and custodian services.

VP Bank was awarded Best External Asset Manager Service Provider and Best Private Banking Regional Partnership at Greater China WealthBriefingAsia Awards for Excellence 2020 and Best Asia EAM Service Desk at Citywire Asia EAM Desk Awards 2020. In 2021, VP Bank was named Best Private Bank -- Intermediary Services by Asian Private Banker.