VP Bank plans to double headcount in Singapore

SINGAPORE - The local unit of Liechtenstein private bank, VP Bank, plans to double its headcount in Singapore in the next two to three years, Singapore chief executive Bruno Morel said.

The bank, which has been in Singapore since 2008, now has about 40 employees here.

"We have the products, clients and commitment from head office. What we need is people, specialists for every market we focus on," said Mr Morel.

The local office focuses on the bank's Asian target markets - Singapore, Hong Kong, Malaysia, Thailand and Indonesia.

VP Bank is a pure play private bank, focusing on asset management services for private individuals and intermediaries.

Intermediaries include family offices, external asset managers and lawyers.

It manages 41.5 billion Swiss francs (S$59.5 billion) of client assets worldwide.