At the VP Bank Swiss Ladies Open at Golfpark Holzhäusern next September, 16-year-old Singapore golfer Chen Xingtong will tee off with more than a caddy to support her. She is being sponsored by VP Bank itself.
“Our sponsorship of a young talent like Chen Xingtong is part of our strategic sponsorship platform that brings our clients and our senior leadership together in an interactive environment,” Thomas Rupf, co-head Singapore & chief investment officer Asia, VP Bank, told FSA.
The Liechtenstein private bank also held a golf simulator event in Singapore recently, which brought clients together with group CEO Urs Monstein and Chen to help relationship building.
“Private wealth is a relationship-driven business and meaningful engagement comes from shared values and experiences,” said Rupf.
Listed on the SIX Swiss Exchange, VP Bank was set up in 1956 and it opened an office in Singapore in 2008. As of 31 December 2024, client assets under management amounted to CHF 50.7bn ($61.2bn).
Asia remains strategically important to VP Bank, despite the closure of its Hong Kong office last year and the resignation of Pamaela Hsu Phua as CEO of VP Bank Asia. Singapore continues to play a “central role in its long-term growth ambitions,” Reto Marx, co-head Singapore and chief risk officer Asia, VP Bank, told FSA.
“The bank’s renewed strategy places a strong emphasis on fostering synergies between the intermediary and private client segments,” he said.
Marx highlighted the Lion City’s “robust financial infrastructure, strategic location and forward-looking regulatory environment”, which creates a hub for business across the region.
“In this regard, business with external asset managers is at the core of VP Bank’s strategic development, while the private client business is highly complementary,” he said.
In the current turbulent environment, Rupf, Marx and their relationship managers “prioritise proactive risk management and good diversification”.
“Our role is to help clients look beyond the short-term noise and position their portfolios for long-term opportunities, backed by our international expertise and local insight,” said Rupf.
However, clients now expect more than simply portfolio performance. They expect a private bank to be “responsive, understand their aspirations, anticipate their needs and generally support them,” he said.
Increasingly, clients are looking for experiences and engagements that reflect their values and purpose, whether it’s wealth planning, entrepreneurship or lifestyle.
Sponsorship programmes, whether sport, arts or culinary “open doors to deeper conversations and fosters long-term partnerships built on common ground beyond the traditional boardroom,” said Rupf.
