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-bankingPLUS 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.

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