Deals
Liechtenstein Bank Eyes Asia After Stemming Tax-Related Outflows
- Seeks partnerships with a view to gaining rich Chinese clients
- CEO says issue of non-compliant clients is behind it
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VP Bank AG, the Liechtenstein-based private bank, is expanding its wealth management operations in Asia as it draws a line under four years of losing clients in Europe due to tax compliance issues.
VP Bank has been adding headcount in Singapore and Hong Kong, and is eyeing partnerships with a view to gaining more wealthy Chinese clients, according to Chief Executive Officer Alfred W. Moeckli. “We’re looking at various possibilities” to tap into the China market, Moeckli said in an interview last week in Singapore.