Claus Jørgensen (VP Bank Luxembourg): Seize Opportunities
“VP Bank remains true to the principle of always looking to the future and using change as an opportunity,” says Claus Jørgensen, CEO of VP Bank (Luxembourg) SA. Interview.
Can you describe your company in a few words?
VP Bank (Luxembourg) SA was founded in 1988 as a wholly-owned subsidiary of the internationally active VP Bank Group. Our core competencies include asset management and investment advisory for private investors as well as institutional custody banking and brokerage services for financial intermediaries. Thanks to our EU passport we can offer cross-border services within the EU. With our Open Wealth platform for wealth-related services, we provide innovative financial services with a strong focus on sustainability as well as easy access to difficult-to-invest or illiquid asset classes. Apart from Luxembourg and Germany, the Scandinavian markets – including Sweden, Denmark and Norway – are also important target markets for us. Besides our broad range of innovative services, our longstanding international clients especially appreciate the solution-oriented approach from our multilingual employees. Our subsidiary VP Fund Solutions (Luxembourg) SA is the group-wide competence center for private label funds.
“Through tokenization and the associated processes for the verification of art objects, the bank has created the basis for offering further services in this area”
Can you explain the motto of VP Bank: "Seize opportunities"?
"Seize opportunities" is our aim for the new "Strategy 2026" cycle. It focuses on profitable, sustainable growth. The foundation of the strategy is the successful existing businesses with intermediaries and private clients, which will be further developed in a targeted manner. In doing so, VP Bank remains true to the principle of always looking to the future and using change as an opportunity. VP Bank has been using these opportunities in Luxembourg for more than 30 years with tailor-made, cross-border banking and fund services. In the Grand-Duchy we are still the only bank with headquarters in Liechtenstein. Apart from the before-mentioned core competencies, we also offer Pan-European fund sales. As a custodian bank for funds, the bank acts both alone and together with the fund competence center VP Fund Solutions as a "one-stop-shop" and offers all the services that together make up the international fund business.
Recently the Token and TT Service Provider Act has been created in Liechtenstein. Is this an opportunity for your clients in Luxembourg?
Since November last year, VP Bank has been registered with the Financial Market Authority (FMA) of Liechtenstein (FMA) as a token creator and token custodian. VP Bank is thus in a position to tap art as a new asset class and, at the same time, to participate at an early stage in the rapid digitalization of the market. Through tokenization and the associated processes for the verification of art objects, the bank has created the basis for offering further services in this area in the coming year and to build up a network with qualified partners. With this milestone, VP Bank has been able to create a niche for itself as a pioneer. Due to the international presence of VP Bank at six locations, our clients in Luxembourg not only benefit from a global network of specialists but also from this highly specialized TT service in Liechtenstein.