VP Bank media release VP Bank receives Hong Kong license to ...
VP Bank media release VP Bank receives Hong Kong license to ...
VP Bank media release VP Bank receives Hong Kong license to ...
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<strong>VP</strong> <strong>Bank</strong> <strong>media</strong> <strong>release</strong><br />
<strong>VP</strong> <strong>Bank</strong> <strong>receives</strong> <strong>Hong</strong> <strong>Kong</strong> <strong>license</strong> <strong>to</strong> operate asset management company<br />
Vaduz, September 20, 2007 – <strong>VP</strong> <strong>Bank</strong> has opened an asset management company in<br />
<strong>Hong</strong> <strong>Kong</strong>, <strong>VP</strong> Wealth Management (<strong>Hong</strong> <strong>Kong</strong>) Limited. The new subsidiary<br />
supplements the <strong>Bank</strong>’s existing <strong>Hong</strong> <strong>Kong</strong> representative office.<br />
As a part of its market expansion efforts in the Middle and Far East, <strong>VP</strong> <strong>Bank</strong> has been granted a<br />
<strong>license</strong> <strong>to</strong> operate an asset management company in <strong>Hong</strong> <strong>Kong</strong>. Adolf E. Real, Chief Executive<br />
Officer of <strong>VP</strong> <strong>Bank</strong> Group, described the dual presence in <strong>Hong</strong> <strong>Kong</strong> by saying, «By<br />
supplementing the representative office with an asset management company, <strong>VP</strong> <strong>Bank</strong> is taking a<br />
further step in its wealth consulting activities and hence its market entry in the Asian region.»<br />
The new <strong>VP</strong> Wealth Management (<strong>Hong</strong> <strong>Kong</strong>) Limited subsidiary will be headed by Clare Lam,<br />
Executive Direc<strong>to</strong>r. Clare Lam has been Deputy Chief Representative for <strong>VP</strong> <strong>Bank</strong> in <strong>Hong</strong> <strong>Kong</strong><br />
since 2006 and has many years of experience in private banking.<br />
<strong>VP</strong> <strong>Bank</strong> is also planning <strong>to</strong> open a bank in Singapore by the end of 2007.<br />
Facts & Figures<br />
Verwaltungs- und Privat-<strong>Bank</strong> Aktiengesellschaft (<strong>VP</strong> <strong>Bank</strong>) was founded in 1956 and is one of the<br />
largest banks in Liechtenstein. Today, it has subsidiaries in Zurich, Luxembourg and the British<br />
Virgin Islands, as well as asset management companies in Munich and Dubai, and representative<br />
offices in Moscow and <strong>Hong</strong> <strong>Kong</strong>.<br />
The <strong>Bank</strong> is comprised of the Private Clients, Trust <strong>Bank</strong>ing, <strong>Bank</strong>ing Services and Corporate<br />
Center business units. As of 30 June 2007, the <strong>VP</strong> <strong>Bank</strong> Group employed 651.0 individuals based<br />
on full-time equivalents. Total assets s<strong>to</strong>od at CHF 10.1 billion, while client assets amounted <strong>to</strong><br />
CHF 39.6 billion. The <strong>VP</strong> <strong>Bank</strong> Group received an «A» (A/ stable/A-1) rating from Standard &<br />
Poor’s, thus making it one of the few officially rated private banks in Liechtenstein and Switzerland.<br />
Tel +423 235 66 55<br />
Verwaltungs- und Privat-<strong>Bank</strong> Aktiengesellschaft Fax +423 235 65 00<br />
LI- 9490 Vaduz - Aeulestrasse 6 - Liechtenstein - MwSt-Nr. 51.263 - Reg.-Nr. FL-0001.007.080 info@vpbank.com - www.vpbank.com
2/2<br />
Agenda<br />
Medial and analyst conference: March 11, 2008<br />
Annual general meeting: April 25, 2008<br />
Roundtable 2008: August 28, 2008<br />
This <strong>media</strong> <strong>release</strong> can be accessed via the Internet at www.vpbank.com under the rubric<br />
Inves<strong>to</strong>r & Media Relations.<br />
For further information, please contact:<br />
Verwaltungs- und Privat-<strong>Bank</strong> Aktiengesellschaft<br />
Tanja Gartmann<br />
Head of Corporate Communications<br />
Aeulestrasse 6<br />
LI-9490 Vaduz<br />
Tel (+423) 235 67 62, fax (+423) 235 77 55<br />
corporate.communications@vpbank.com<br />
www.vpbank.com<br />
Tel +423 235 66 55<br />
Verwaltungs- und Privat-<strong>Bank</strong> Aktiengesellschaft Fax +423 235 65 00<br />
LI- 9490 Vaduz - Aeulestrasse 6 - Liechtenstein - MwSt-Nr. 51.263 - Reg.-Nr. FL-0001.007.080 info@vpbank.com - www.vpbank.com
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