Liechtenstein-based VP Bank has appointed Marcel Seger as its head of private banking Germany.
The newly created position was filled in February by Seger and he will lead a team of five advisers. Their goal is to maintain and expand the existing network as well as client portfolios.
Seger has been with VP Bank for over 13 years and held positions such as client adviser personal banking and client adviser private banking international. He held this last role for the previous five years.
In addition, Seger was selected through the bank’s talent academy and the bank stated it is “proud to be able to fill the position of head of private banking Germany in Liechtenstein from within its own ranks”.
According to the bank: “Germany is one of the largest private banking markets in Europe and has been a traditional target market for VP Bank for many years. The cultivation of this important target market is managed from Zurich, while the new Private Banking Germany team operates out of Liechtenstein.
“In the future, this team will focus increasingly on the German market. In doing so, it will continue to leverage the strengths of VP Bank, the Liechtenstein financial center as well as the high level of expertise of the advisors in the German market in order to continue the successful growth path in Germany. The goal is to continue to offer VP Bank’s clients a high-quality, personalised service that is constantly being expanded. In addition to intensified personal client contact, a number of events in Germany are also planned for 2023.”
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In 2021, VP Wealth Management (Hong Kong), a subsidiary of the Liechtenstein-headquartered VP Bank, opened a new office in Hong Kong.
The move was part of the lender’s strategy to tap the evolving wealth in the Asian countries and is in line with its Strategy 2026 to further expand its growth in the regions.
The new Hong Kong office will accommodate more than double of the VP Bank’s current workforce in the country, according to VP Bank chief of Staff Asia Heline.