VP Bank, Hywin Wealth enter into strategic collaboration
Chinese and Liechtenstein wealth managers intend to establish Hong Kong-based platform to meet the demand of wealthy Chinese for wealth management services
Pure play wealth managers VP Bank Ltd (Liechtenstein) and Hywin Wealth Management Co. (China) have signed a memorandum of understanding to jointly establish a Hong Kong-based collaboration platform to meet the demand of wealthy Chinese for sophisticated wealth management services on- and offshore.
The move is intended to create a seamlessly integrated “Global Wealth Management Proposition” for the fast-growing Chinese (Ultra) High Net Worth ([U]HNW) community, both at home and abroad.
Hywin Wealth, founded in Shanghai in 2006, is a wealth manager with 148 subsidiaries in 72 Chinese cities employing more than 2,000 staff and serving more than 50,000 clients nationwide. It offers sophisticated asset management, estate planning and philanthropy services. Outside mainland China, Hywin is present in the United Kingdom and Hong Kong.
VP Bank established in 1956, is a bank in Liechtenstein with an international presence in Switzerland, Luxembourg, Singapore, Hong Kong and the British Virgin Islands. VP Bank Group offers comprehensive wealth management solutions for private individuals and intermediaries.
“The planned cooperation represents an excellent opportunity to expand our business activities in the Chinese market and to successfully continue VP Bank Group's Asia strategy with a highly professional and in China widely recognized partner,” says Christoph Mauchle, head of client business and member of VP Bank’s Group Executive Management.
Dian Wang, CEO of Hywin Wealth Management, adds, “The proposed collaboration enables us to tap and house the extensive expertise of VP Bank as an established, globally active financial services provider whose clients count on decades of experience and a modern infrastructure.”
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11 Jul 2019