Andrew Tjia, Head of Private Banking, feels confident that VP Bank’s tailored offering, combined with its Asia-centric business model, are key differentiators in targeting High-Net-Worth-Individual clients in Asia.
As an international private bank and a specialist in asset management services in Switzerland and in Asia’s major hubs, being positioned as a boutique bank with top-notch solutions and services has been key to VP Bank’s success.
The decisive resource for gaining and maintaining the trust of clients is VP Bank’s team of motivated, competent and service-oriented employees who possess keen interpersonal skills and deep client relationships. Having these right people is especially important in the business of financial services.
Quality and Efficiency
«Our clients have the right to be served by an experienced advisor who has deep understanding of their requirements and a comprehensive grasp of their individual circumstances,» says Tjia. Therefore, VP Bank pays utmost attention to the quality and efficiency in the advisory process.
Apart from these measures, VP Bank offers its team members a positive office environment and the chance to take advantage of numerous opportunities for a meaningful career. With their specialised know-how, commitment and readiness for any necessary adjustments, they are integral to VP Bank’s success.
Prosperous Business Development for Asia
With VP Bank’s focus on specific markets and segments, this enables the bank to keep its service at the highest possible level with the promise of transparency.
VP Bank sees tremendous growth opportunities in the Asia-Pacific region. Its key markets are China, Indonesia, Hong Kong, Malaysia, the Philippines, Singapore and Thailand, with local offices in Singapore and Hong Kong. VP Bank focuses on HNWIs starting at 5 million Singapore dollars up to the UHNWIs.
As a boutique bank, the offer for Asian clients is being successively broadened with an optimised range of products and services as well as innovative forms of communication. This is backed by VP Bank’s decades of investment competence.
Comprehensive and Personalised Services
With clearly-defined roles in client servicing, this ensures seamless interaction between VP Bank’s client advisors and specialists in the fields of investment products and services, taxes, credits, funds and legal entities such as trusts and foundations.
As a part of the bank’s holistic approach to investment advice, VP Bank’s teams can draw on Group-wide competencies to design bespoke solutions that fulfil all of the client’s requirements. The importance of interdisciplinary collaboration is steadily increasing to ensure the clients of VP Bank are provided with the best solutions.
Top Notch Solutions
«We are a mid-sized bank. With a staff of roughly 40 entrepreneurial employees in Asia, and 800 employees worldwide, we are right-sized to offer top notch solutions with a personal touch,» Tjia states.
VP Bank’s Senior Relationship Managers are experienced professionals with proven track records in the industry. The flat hierarchies in VP Bank also allow quick decisions, flexibility and easy access to the top management.
Pointing out another competitive advantage, Tjia says: «We offer an open architecture platform as well as direct market access to the trading rooms in Singapore and Liechtenstein/Switzerland, covering the main time zones».
Stability and Security for Asian Clients
VP Bank sets itself apart from other global private banks with an «A–» rating by Standard & Poor’s and its shares are listed on SIX Swiss Exchange in Zurich. Backed by a solid balance sheet and capital adequacy, VP Bank stands squarely behind continuity, independence and sustainability.
Both the bank’s structure and size bode well in the financial industry that is undergoing dramatic changes in terms of business models and strategies. VP Bank is prepared for the rising concern about financial health as VP Bank Group possesses a solid capital base as compared to other financial institutions. With its robust core capital (tier 1 ratio) of 25.7 percent, it shows a high measure of stability and security.
«We are purely a private bank, with no retail or risky investment banking. Backed by our strong balance sheet, we can undertake reasonable risk, and are better able and willing to lend. Our intent is not to compete with big banks which offer a broader range of products and investment banking services. We are proud to be a trustworthy boutique private bank that serves the needs of our Asian clients,» explains Tjia.
Serving Asian clients at VP Bank’s new Singapore office in Asia Square Tower
Moving Safely Ahead
VP Bank is also focusing on developing new digital services in the payments, trading and client relations areas.
To aid in its expansion of its international business, VP Bank will increase the number of client advisors and advisory teams in its key markets. This is in line with VP Bank’s intent to promote organic growth.
«The plan calls for the recruitment of around 25 additional front office employees annually over the next three years, and this includes our Singapore office,» Tjia forecasts.
A Trustworthy Partner
This year, VP Bank has demonstrated once again that it is well positioned in the industry. At end-July 2016, rating agency Standard & Poor’s confirmed VP Bank’s excellent 'A-' rating and raised its outlook for the bank to 'stable'. This good rating and improved outlook take into account VP Bank’s operational gains and prudent risk management as well as the strong capitalisation.
With a 25.7 percent Tier 1 ratio, VP Bank also has one of the strongest capitalisations in the industry. This enables the bank to adapt to the on-going transformation of the financial industry.
«Trust is most important in the banking business. Our clients in Asia – and around the world – can place their trust in VP Bank as we are their solid and reliable partner,» concludes Tjia.
VP Bank Ltd was founded in 1956 and, with its 800 employees as at mid-2016, ranks amongst the largest banks in Liechtenstein. Today, VP Bank has offices in Vaduz, Zurich, Luxembourg, Tortola (British Virgin Islands), Singapore, Hong Kong and Moscow. VP Bank Group offers tailor-made asset management and investment advisory services to private clients and financial intermediaries.
VP Bank’s true open architecture enables clients to benefit from independent counsel. Its investment recommendations extend beyond the Bank’s own asset management solutions to also include diverse quality products and services from other leading financial institutions.
VP Bank is rated ‘A-‘ by Standard & Poor’s, and its shares are listed on SIX Swiss Exchange. Backed by a solid balance sheet, VP Bank stands squarely behind continuity, independence and sustainability.
