VP Bank is expanding its office space in Singapore's Asia Square. The move underpins the Liechtenstein-based private bank's target to double headcount in the next three years.
The Vaduz-based private bank said it is taking more space in Asia Square Tower 1, shortly after poaching veteran private banker Kimmis Pun from Standard Chartered to run its private banking activities in the city-state.
The move also comes as VP enlists the help of former Julius Baer Asia banker Tom Meier to help bolster its business in Asia. The bank aims to double its headcount in the region, which currently stands at 50, in private banking and with intermediaries by 2020.
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Other notable finance firms in Asia Square's Tower 1, which is owned by Qatar, include Citibank, which has clinched the building's outside signage, Julius Baer, Lloyd's of London, J. Safra Sarasin, Royal Bank of Canada, and fund house Fidelity. Switzerland's central bank also maintains a trading outpost in the same tower.
«This move will greatly support VP Bank’s future growth targets especially in the area of headcount,» VP's Singapore CEO Bruno Morel said.
