Showing posts with label Liechtenstein. Show all posts
Showing posts with label Liechtenstein. Show all posts

Friday, August 16, 2024

Liechtenstein's VP Bank to exit Hong Kong after 18 years and transfers Asian business to Singapore

Bad news for Hong Kong!

Since the illegal takeover by the Communist Party of China, Hong Kong, once a Mekka of free trade and laissez faire, is in decline.

The tiny Principality of Liechtenstein (population about 40,000), located in the center of Europe, sandwiched between Switzerland and Austria, is a bellwether of global financial markets and private wealth management!

I bet, most people have never even heard of this country.

The VP Bank is specialized on (discrete) private banking.

"Private banking specialist VP Bank Asia's Hong Kong office will shut down after its chief executive officer and chief operations officer resigned Thursday, according to people with knowledge of the matter. ..."

Liechtenstein's VP Bank to exit Hong Kong after 18 years - Nikkei Asia "CEO Pamela Hsu Phua and COO Heline Lam resign; Singapore office to focus on Asia"