Shanghai-based Hywin Wealth and Liechtenstein's VP Bank join forces to meet the sophisticated on- and offshore demands of Chinese high net worth individuals. finews.asia talked to Hywin's CEO Dian Wang.
Madame Wang, how and when did Hywin Wealth Management get in touch with VP Bank?
The owner family and senior management of Hywin Wealth have known VP Bank for quite some time. The two sides have exchanged ideas, tapped each other’s wisdom, and nurtured a shared vision that is about to manifest itself in the collaborative enterprise
Why is VP Bank the ideal partner for Hywin?
VP Bank is a pure-play wealth manager, same as Hywin Wealth. Wealth management, as an industry and as a profession, requires singular focus and great specialization to deliver excellence. VP Bank and Hywin have this fundamental like-mindedness. VP Bank is a listed company, with transparent and stable corporate governance. This is a very reassuring attribute to find in a partner.
«As a leading wealth manager in China, Hywin continuously seeks to enrich its intellectual capital»
Very importantly, the management team of VP Bank consists of Asia veterans, fully appreciative of the immense promises and challenges of China and other Asian markets.
What are the specific benefits that VP Bank can offer to Hywin clients and vice versa?
As a leading wealth manager in China and an aspirant new entrant to the offshore space, Hywin continuously seeks to enrich its intellectual capital, further upgrade the expertise of its people, expand its spectrum of solutions and services, and provide safety and security to all clients.
VP Bank’s knowledge, experiences, and best practices can definitely add to ours. VP Bank, as a private bank known for its safety, will be an excellent choice to be the custodian of our clients’ assets.
«Hywin has a superb China onshore franchise»
In addition, one of VP Bank’s strengths is family trust and succession planning, which are very timely solutions to Chinese families whose wealth and businesses are both being passed on to the next generations.
The other way around, Hywin has a superb China onshore franchise, with our 1,500 relationship managers having quality conversations with tens of thousands of High-Net-Worth clients (HNW) every day. Hywin can effectively strengthen VP bank’s insights and engagement with Chinese clients, and promote its branding to the largest high-growth HNW population in the world.
«The case for working together is so obvious»
Also, Hywin can introduce VP Bank’ clients to various China-themed investment opportunities, and work as their guide in accessing the highly rewarding but intricate China assets.
Will Hywin further expand to Europe through VP Bank?
Hywin Wealth in 2017 acquired a boutique wealth manager in London. Hywin Wealth (U.K.) and VP Bank could, in a complementary manner, become the servicing platforms for Hywin clients who want to gain exposure to the U.K. and Continental Europe.
What are the next steps in this planned joint-venture?
The Hong Kong-based collaboration platform is now at the planning stage. The combination of Hywin Wealth and VP Bank’s strengths and resources can take various forms, ultimately to deliver the synergies between Hywin’s large franchise of Chinese HNWIs and VP Bank’s deep knowledge and global network. The case for working together is so obvious and so promising.
Dian Wang has been active in China's financial services for many years and is regarded as one of the leading figures shaping China's wealth management market.
