Two pure asset managers are joining forces to meet the demanding on- and offshore requirements of Chinese wealthy private individuals.
Hywin Wealth Management (China) and VP Bank (Liechtenstein) signed a Memorandum of Understanding on Thursday to enter into a strategic cooperation.
They intend to jointly establish a Hong Kong-based collaboration platform to meet the needs of wealthy Chinese for their demanding onshore and offshore needs.
More than 50,000 customers nationwide
Established in Shanghai in 2006, Hywin Wealth is an asset manager in China with 148 subsidiaries in 72 cities, employing more than 2,000 people and serving more than 50,000 clients nationwide. It offers wealth management, estate planning, and philanthropy. Outside of mainland China, Hywin is represented in Great Britain and Hong Kong.
VP Bank, founded in 1956, is a bank in Liechtenstein with an international presence in Switzerland, Luxembourg, Singapore, Hong Kong and the British Virgin Islands. The group offers comprehensive asset management solutions for private individuals and intermediaries. The bank is listed on the Swiss stock exchange. According to further information, VP Bank is already working very closely with financial intermediaries and asset managers in order to offer its customers first-class solutions.
“The proposed cooperation enables us to use the comprehensive know-how of VP Bank as an established, globally active financial services provider whose customers can count on decades of experience and a modern infrastructure.” Dian Wang (Pictured above) said CEO of Hywin Wealth Management. “We will now be able to more closely follow and serve our clients in their global endeavors and accelerate our mission to become an asset manager with the highest global standards,” she added.
Read here finews.asia is a recent interview with Madame Wang.
Widely recognized partner
“The planned cooperation offers an excellent opportunity to expand our business activities in the Chinese market and to successfully continue the VP Bank Group’s Asia strategy with a highly professional and widely recognized partner in China”, Christoph Mauchle (Picture above), head of customer business and member of the group management of VP Bank, said.