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

January 18, 2021 - 10:17
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 SingaporeBranch has been awarded 'Best Private Bank -- Intermediary Services' in the AsianPrivate Banker Awards for Distinction2020. The win is testament to the bank's long-standing expertise and commitmentto financial intermediaries across the Asia-Pacific region.


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


"We are honoured to accept this award from the Asian PrivateBanker, and I am thankful to our colleagues, clients and partners for their supportand trust that has helped us achieve this recognition. We are in a strongposition to expand our network, and offer excellent services for external assetmanagers, family offices and trustees," said Thomas Jost, Head Intermediariesat VP Bank Ltd Singapore Branch.  


"In Asia, VPBank is well-placed to provide our clients with an integrated offering throughour Singapore wealth hub, drawing on our global expertise, ecosystem ofpartners and long-standing experience in serving our Intermediaries and PrivateBanking clients. " added Reto Marx, Head Intermediaries & PrivateBanking.


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


Commenting on VP Bank's win, editor ofAsian Private Banker, Sebastian Enberg who also chairs the judging panel forthe Awards for Distinction said, "VP Bank's patent commitment to Asia'sindependent asset management community is well evidenced by its continued andmeaningful investments in servicing, solutions, and digital capabilities, withthe intent of supporting Independent Asset Managers and their clients beyondtheir traditional banking needs. This dedication is laudable in an industrywhere IAMs are not typically viewed as a core business priority, let alonepartners. And it's yielding results. In 2020 -- and amid challenging conditions-- VP Bank in Asia realised a marked increase in the quality of its IAMrelationships, including in North Asia, healthy new asset inflows, and furtheradded to its team of Intermediaries specialists, thereby distinguishing itselfin a highly competitive space."


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

Facts & Figures - VP Bank Group

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


Facts & Figures - VP Bank Ltd Singapore Branch

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


VP Bank Ltd SingaporeBranch provides specialised wealth management solutions and family officeservices for high-net-worth clients and professional asset managers and isdedicated to the protection and growth of clients' wealth. The bank offers aholistic suite of services in wealth management. Apart from private wealthmanagement, VP Bank Ltd Singapore Branch provides comprehensive services forasset managers and other financial intermediaries. The service offeringcomprises a trading platform, banking services - including e-banking and mobilebanking - and operational support. Partnership arrangements with professionalsinclude tailor-made investment advisory, discretionary management solutions,and custodian services.

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