Strategy & Practice Management
The intermediaries strategy of VP Bank
Sylvain Gysler of VP Bank
Jan 29, 2018
Financial intermediaries who desire personalised service and a long-term partnership are sure to hit the mark by choosing a boutique private bank. Sylvain Gysler, Head of Intermediaries at VP Bank (Singapore), explains VP Bank’s approach in the intermediaries business.
As the consolidation of the banking landscape takes its course and consequentially creates ever-larger, global financial enterprises, the number of independent asset managers and intermediaries is on the rise. These professionals are seeking the exact opposite of large financial enterprises. In other words, they are seeking smaller private banks with a boutique approach – institutions that can provide bespoke solutions and first-rate, personalised service.
A reliable partnership
Since its founding more than 60 years ago, VP Bank prides itself in being a reliable, leading-edge partner for financial intermediaries. Servicing this demanding segment successfully requires cognisance of the different and ever-changing needs of clients in Europe and Asia, a constant eye on regulatory requirements, and simultaneously the ability to leverage on the advantages of a digitised world.
VP Bank Group’s “boutique” approach to private banking also applies to its intermediaries business. In other words, it is neither a pure online bank nor a garden-variety universal bank. With its differentiated, personalised air and flair, VP Bank stands out amongst its competitors.
The goal is to offer clients efficient, reliable, cost-effective and intuitively conceived banking services and data in a digital environment. Client segmentation helps VP Bank to tailor its services accordingly. In this regard, external asset managers receive targeted, proactive support from the Active Advisory Team of VP Bank and benefit from specific investment recommendations, switch ideas and portfolio consulting.
With its five international booking centres, VP Bank is one of the few banks of its size to have this unusually broad global presence.
First-class service for intermediaries
VP Bank’s boutique approach to collaborating with intermediaries is evidenced by its services and products, each of which is aimed at satisfying the special needs of those professionals. For instance, the Key Account Management process encompasses comprehensive advice for fiduciaries and external asset managers as well as other important services, each tailored to the client’s specific requirements. This offering is supplemented by an Active Advisory Team – highly committed investment consultants who take the initiative by providing short- and medium-term investment recommendations, switch ideas and portfolio consulting services.
“ProLink”, VP Bank’s new information platform, is specially designed for use by intermediary clients. This tool offers VP Bank’s intermediary clients a simple and speedy way to access the most important information and services needed for their daily work - from extensive coverage of financial market events, to regular publications on business and economic issues, to the latest news on tax and regulatory developments plus the relevant VP Bank forms.
“Our objective is to enable our intermediary clients to call up information with just a few clicks of the mouse, allowing them to turn their attention back to their end clients’ needs right away”, Gysler states.
Market Update Call and Webinars
The Investment Research Team within VP Bank conducts “Market Update Calls” which are also available for intermediaries. As a step towards embracing digitisation, a webinar has also recently been set up and clients may register via a link on the browser or via app to participate in the webinar. The clients may view the presentation directly in their browser and the comments by VP Bank’s economists are transmitted via the sound system of the computer (integrated speakers or headphones).
Stability you can count on
In view of the ongoing consolidation in the financial industry, stability is a major plus point for VP Bank’s interaction with intermediaries as well as private clients. One of the most important questions people ask themselves when choosing a financial partner is, “Will the bank still be there in five years’ time?” For family-owned businesses and financial intermediaries in particular who need to plan for generations to come, this is indeed an important consideration. “For more than six decades, VP Bank has been a steadfast banking partner for intermediaries and their clientele”, Gysler points out.
In fact, the intermediaries business was an integral part of VP Bank’s DNA at the time of its inception. Founder Guido Feger was himself one of the most successful fiduciaries in Liechtenstein, and the intermediaries business has been a core activity of VP Bank Group ever since – few other institutions attach as much importance to this client segment. The Bank has always kept pace with the times, and its modern infrastructure is evolving in lockstep with the changing needs of financial intermediaries.
Safely ahead with VP Bank
In the description of “large when it helps to be large, yet small where it counts”, Sylvain Gysler summarises what private clients and intermediaries expect of VP Bank. These characteristics are also reflected in the Bank’s core value - “Safely ahead”.
“We keep an eagle eye on the changes as they emerge and use them to our best advantage. As the financial, political and regulatory world continues to evolve, we are well equipped to rise to the challenges and benefit from the opportunities. Our rock-solid capital base vouches for that. Keeping ahead, keeping close to our clients, proving our reliability on a daily basis, and rendering top-notch services will remain the decisive factors for VP Bank and its business success – as well as that of its intermediary clients”, Gysler concludes.
Facts & figures of VP Bank Group
VP Bank AG was founded in 1956 and, with its 819 employees (757 in full-time equivalents) at mid-year 2017, ranks amongst the largest banks in Liechtenstein. Today, VP Bank is present with offices in Vaduz, Zurich, Luxembourg, Singapore, Hong Kong, Moscow and Tortola (British Virgin Islands). VP Bank Group offers tailor-made asset management and investment advisory services to private clients and financial intermediaries. Thanks to the Bank’s genuine open architecture, clients benefit from the Bank’s independence including in its investment recommendations, as these may cover not only the Bank’s own asset management solutions but also the products and services of other leading financial institutions. VP Bank is rated “A–” by Standard & Poor’s, and its bearer shares are listed on SIX Swiss Exchange. The Bank has a solid balance sheet and capital adequacy. Its anchor shareholders take a long-term view and stand squarely behind continuity, independence and sustainability.
Facts & Figures of VP Bank (Singapore)
VP Bank (Singapore) Ltd is a boutique private bank with a client-centric business philosophy. Established in 2008, VP Bank (Singapore) Ltd is the Asian subsidiary of the Liechtenstein-based VP Bank Group with more than 40 employees.
VP Bank (Singapore) Ltd provides specialised wealth management solutions and family office services for high-net-worth clients and professional asset managers.
VP Bank (Singapore) Ltd is dedicated to the protection and growth of clients’ wealth. The bank offers a holistic suite of services in wealth management. Apart from private wealth management, VP Bank (Singapore) Ltd also provides services for asset managers and other financial intermediaries. The service offering comprises a trading platform, banking services including ebanking and mobile banking and operational support. Partnership arrangements with professionals include tailor-made investment advisory, discretionary management solutions and custodian services.
Executive Director, Head of Intermediaries at VP Bank
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