Luxembourg-headquartered VP Bank has signed a cooperation agreement with Hywin Wealth Management and its subsidiary Hywin Asset Management (Hong Kong), as reported by FSA‘s sister publication, International Adviser.
They will jointly establish through Hywin’s Hong Kong entity a collaboration platform to meet the demands of wealthy Chinese for sophisticated wealth management services offshore.
VP Bank will access Hywin Wealth’s client base, accelerating its growth ambitions in Asia. In addition, Hywin Wealth through will access VP Bank’s offshore wealth management offering.
As part of the agreement, VP Bank has acquired a 3.4% stake in Hywin Holdco, representing the formalisation and long-term alignment of the strategic partnership.
The financial terms of the deal were not disclosed.
‘TOP PRIORITY’
Paul Arni, chief executive of VP Bank Group, said: “Asia represents a top priority in our Strategy 2026. 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.
“Partnering with a highly professional and recognised partner such as Hywin Wealth Management is a true privilege. Combining our proven strength and experience in servicing financial intermediaries with the strengths of Hywin as a valued wealth manager for Chinese clients offers us attractive opportunities.”
Tobias Wehrli, head of intermediaries and private banking at VP Bank, added: “I am looking forward to further expanding our cooperation in the intermediary area.
“With Hywin Wealth Management, we are combining the best of both firms and can offer exclusive custody, investment and wealth management services for the fast-growing Chinese ultra-high net worth community abroad and leverage joint synergies at our Singapore and Hong Kong locations.”
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