PHNOM PENH, CAMBODIA – Media OutReach – 30 July 2021 – To meet the increasing digital and cashless demands of Cambodians, Hong Leong Bank Cambodia (“HLB” or the “Bank”) in partnership with Mastercard has launched a Standard and Platinum Debit Mastercard. These new cards will provide consumers with convenient, easy-to-use and secure cutting-edge payments products when paying online or in-store.

Hong Leong Bank Cambodia partners Mastercard to introduce a Standard and Platinum Debit Mastercard to provide Cambodians with convenient, easy-to-use and secure digital payments. 

According to a Mastercard research, four out of five Cambodians prefer the speed of digital payments, while about 63 percent use new technology to help better manage their money. Additionally, 42 percent of respondents were more comfortable using contactless payments during the pandemic as it gave them peace of mind.

Terrence Teoh, Managing Director and CEO of HLB Cambodia said, “Driven by the country’s exponential digital and cashless growth, we are committed to offering Cambodians simple, seamless and safe products built around their increasingly digital lifestyles. With this in mind, we partnered with Mastercard, who brings with them an advanced global network to launch our new HLB Debit Mastercard. In line with the demand for convenience, Cambodian customers can open the Bank’s all-in-one account seamlessly online anytime, anywhere on the Hong Leong Connect app, without needing to step into a Bank branch. The HLB Debit Mastercard will be delivered to customers at their location of choice.

“These new debit cards will also enable greater access to digital payments and e-commerce as it can be easily used at an ever-expanding number of online and offline merchant touchpoints. Cardholders can also enjoy extensive offers and rewards, while experiencing the benefits digital payments have to offer,” added Teoh.

Attractive rewards bundled with the new HLB Debit Mastercard include higher interest rates for the HLB all-in-one account, a waiver on Mastercard fees, and discounts from foodpanda as well as a wide range of restaurants, hotels and resorts across Cambodia.

More importantly, HLB cardholders will also have the opportunity to make a difference to the community by simply spending with their cards. With each transaction made using the HLB Debit Mastercard either online or in-store from now till October 2021, one percent of the payment value will be donated to Kantha Bopha Children’s Hospital, which provides free medical services to about 85 percent of the country’s children.

“Since last year, we have seen incredible changes in the way we live, shop and work, and for many, digital payments have offered a safer, easier way of paying for essentials. According to the Mastercard New Payments Index, 94 percent of consumers in Asia Pacific are interested in trying emerging forms of payments this year. With digital commerce starting to take off in Cambodia, Mastercard is proud to be working with Hong Leong Bank to develop products that offer consumers convenience and security, while supporting digitalization efforts in the Cambodian economy,” said Winnie Wong, Country Manager, Vietnam, Cambodia and Laos, Mastercard.

For more information on the new HLB Debit Mastercard or to open an account online, please visit our website.

#HongLeongBankCambodia

SINGAPORE – Media OutReach – 30 July 2021 – Leading international wealth manager and private bank, VP Bank Ltd, today announced several key changes within its Asia organisation. These appointments further affirm the bank’s dedication towards Strategy 2026, to grow its client relations and enhancing its competitive edge to seize opportunities in the region.

VP Wealth Management (Hong Kong) Ltd

Organisational Updates

1.       After a 15-year career with the bank, Clare Lam will be retiring from her role as Chief Representative/Head of Hong Kong on 30 September 2021. Clare will assume the role of Senior Advisor, effective 1 October 2021 (subject to the official appointment of the new Chief Representative/Head of Hong Kong). We thank Clare for her dedication and continued support for our Hong Kong office.

2.       As testament to the depth of VP Bank’s internal talents, Reto Marx will move from his current role as Head of Intermediaries and Private Banking Singapore to assume the responsibility of Chief Representative/Head of Hong Kong, effective 1 October 2021. Reto is a highly regarded financial professional with strong experience in private banking, asset management and intermediaries business. In his new role, Reto will relocate to Hong Kong and report to Chief Executive Officer Asia, Pamela Hsu Phua.

VP Bank Ltd Singapore Branch

New Appointment

1.       Esther Fung joins as a Senior Wealth Planning Specialist in the rank of an Executive Director, with immediate effect. Given her extensive experience across Singapore and Hong Kong, Esther will support the development and broadening of VP Bank’s wealth and succession planning solutions in Asia. She brings over two decades of experience serving ultra-high net worth individuals and families providing sound advice and expertise to meet their wealth planning and family office needs. Prior to joining VP Bank, Esther worked for DBS, Equity Trust and BNP Paribas, and is a full member of the STEP organisation.

Organisational Updates

1.       Thomas Jost will be leaving the bank from his role as Head of Intermediaries Singapore to pursue other opportunities, with Markus Wolf stepping in to take over the role ad interim, effective 1 August 2021. Markus joined VP Bank Singapore in 2019 and was supporting the firm’s strategic plans in Asia. He has more than 15 years of Asia private banking experience in strategy development and business management. He will be reporting to the interim Head of Singapore, Thomas Rupf.

2.       Luca Kast will assume the newly created role of Business Manager Asia, reporting to Chief of Staff Asia, Heline Lam, effective 16 August 2021. Currently as Deputy Head of Operations Singapore, Luca has been with VP Bank for 4 years and in his new capacity, he will work closely with Heline to drive the strategic business initiatives for the region.

3.       Karen Tan, Head of Private Banking Singapore, will continue to lead the Private Banking business, reporting to interim Head of Singapore, Thomas Rupf.

“Through strengthening our team in Asia, VP Bank continues to be in a solid position to accelerate our growth in line with Strategy 2026. With Asia being a market of immense opportunities for VP Bank, we look forward to achieving greater success within the region,” highlighted Pamela Hsu Phua, CEO Asia of VP Bank.

VP Bank has geared its Strategy 2026 towards becoming an international Open Wealth Service pioneer for intermediaries and private clients.

About VP Bank Group

VP Bank established in 1956, is a leading bank in Liechtenstein with an international presence in Switzerland, Luxembourg, Singapore, Hong Kong and the British Virgin Islands. VP Bank Group offers comprehensive wealth management solutions for intermediaries and private individuals. VP Bank is listed on the Swiss stock exchange. It has an “A” rating from Standard & Poor’s as a well-capitalised and secure bank. It provides independent advice and access to leading investment houses through its open architecture. A standout feature of VP Bank is its strength in working with financial intermediaries and wealth managers to offer best in class solutions for clients.

About VP Bank Ltd Singapore Branch

VP Bank Ltd Singapore Branch is a boutique private bank with a client-centric business philosophy. With a presence in Singapore since 2008, it is the Asian branch of the Liechtenstein-based VP Bank Group.

VP Bank Ltd Singapore Branch provides specialised wealth management solutions and family office services for high-net-worth clients and professional asset managers and is dedicated to the protection and growth of clients’ wealth. The bank offers a holistic suite of services in wealth management. Apart from private wealth management, VP Bank Ltd Singapore Branch provides comprehensive services for asset managers and other financial intermediaries. The service offering comprises a trading platform, banking services – including e-banking and mobile banking – and operational support. Partnership arrangements with professionals include tailor-made investment advisory, discretionary management solutions, and custodian services.

VP Bank was awarded Best External Asset Manager Service Provider and Best Private Banking Regional Partnership at Greater China WealthBriefingAsia Awards for Excellence 2020 and Best Asia EAM Service Desk at Citywire Asia EAM Desk Awards 2020. In 2021, VP Bank was named Best Private Bank – Intermediary Services by Asian Private Banker and ‘Best Boutique Private Bank’ at the 9th annual WealthBriefingAsia Awards 2021.

#VPBank