07/11/2019 | Press release | Distributed by Public on 07/11/2019 01:39
Hywin Wealth Management Co. and VP Bank Ltd signed a memorandum of understanding declaring the intention to enter into strategic collaboration. Combining the strengths of both organisations will 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 today a leading wealth manager in China with 148 subsidiaries in 72 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 leading 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. VP Bank is listed on the Swiss stock exchange. It has an 'A' rating from Standard & Poor's as a well-capitalised and secure bank. It provides independent advice and access to leading investment houses through its open architecture. A standout feature of VP Bank is its strength in working with financial intermediaries and wealth managers to offer best in class solutions for clients.
Both institutions' anchor shareholders take a long-term view, guaranteeing continuity and independence as well as sustainability coupled with technological affinity.
'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 recognised 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. We will now be able to follow and service our clients more closely in their global aspirations and accelerate our mission to become a wealth manager of the highest global standards'.