VP Bank Acquires Stake in Hywin
VP Bank is acquiring an equity stake in Chinese wealth manager Hywin after signing a new agreement as part of an ongoing strategic partnership.
VP Bank, Hywin Wealth Management, its subsidiary Hywin Asset Management and other parties signed a cooperation agreement, according to a statement.
The agreement will include collaboration via the Hong Kong platform to meet the needs of offshore Chinese ultra-high net worth clients across custody, investment and wealth management services.
The latest agreement furthers VP Bank and Hywin’s strategic partnership which was first established in July 2019.
Hywin Stake
Following the latest agreement, the Liechtenstein-headquartered lender will also acquire a 3.4 percent stake in Hywin via its Nasdaq-listed entity Hywin Holdco.
«We will now be able to follow and service our clients more closely in their international aspirations and accelerate our mission to become a wealth manager of the highest international standards» said Hywin Wealth chief executive Wang Dian.
«Asia represents a top priority in our Strategy 2026,» added VP Bank Group CEO Paul H. Arni. «The outstanding collaboration with Hywin and the participation in the equity fundraising activities of Hywin Holdco provide us with an excellent opportunity to successfully continue VP Bank Group's Asia momentum.»
