VP Bank invests in Hywin
VP Bank and Hywin are seeking to establish a cooperation platform in Hong Kong. The aim here is to offer services in the field of asset management to high-net-worth Chinese citizens. For this purpose, VP Bank has acquired an equity stake of 3.4 percent in the Chinese financial group.
VP Bank AG (Liechtenstein) and the Hywin subsidiary Hywin Asset Management (Hong Kong) Limited are planning to jointly establish a cooperation platform, VP Bank writes in a press release. Via this platform, asset management services will be offered to high-net-worth Chinese citizens. A Memorandum of Understanding had previously been signed between VP Bank AG (Liechtenstein), Hywin Wealth Management Co., Ltd (China) and Hywin Asset Management (Hong Kong), VP Bank explains in the press release. In the wake of this cooperation, VP Bank is acquiring a stake of 3.4 percent in Hywin Holdings Ltd.
“Asia represents a top priority in our Strategy 2026”, comments Paul H. Arni, CEO of the VP Bank Group. The press release additionally states that China is a “market creating two billionaires every week”. The strategic partnership with Hywin will enable VP Bank to access the clientele of Hywin Wealth. “The outstanding collaboration with Hywin and the participation in the equity fundraising activities of Hywin Holdco provide us with an excellent opportunity to successfully continue VP Bank Group's Asia momentum”, Arni explains further.