30 Years of growth: Marcel Tschanz on VP Bank BVI's successful journey
In your opinion, how has VP Bank BVI evolved over the past 30 years?
The bank's evolution over such a long period of time was heavily influenced by multiple local and geopolitical events. For example, in 1995 "Yahoo!" was founded and the World Wide Web was about to become one of the most significant changes in how people interact around the globe. Only four years later, VP Bank enabled its clients to access their accounts electronically. To this day, VP Bank (BVI) Ltd is considered the digital market leader in private banking in the Caribbean. The pandemic greatly accelerated the adoption of electronic channels for client relationship management and banking activities.
VP Bank (BVI) Ltd started as a joint venture with Allgemeines Treuunternehmen ATU and in 2013 separated to independently grow and develop its client base. VP Bank is the first bank in the BVI for premium real-estate financing. Another branch of the business model focuses on facilitation of international transaction which is fueled from the BVI financial center's attraction for corporate structures. We talk of more than 350'000 corporations registered and managed in the BVI. In this business VP Bank (BVI) Ltd established itself also over the past 10 years as the most reliable partner to transact payments across the globe.
Which milestones have particularly shaped the bank?
Certainly, the separation from ATU in 2013 changed the appearance and sharpened the positioning of VP Bank (BVI) Ltd in the local market. The change in management that happened in 2023 led to a more open and collaborative approach in how VP Bank (BVI) Ltd worked internally, how staff was able to actively contribute to shaping the business but also how it became a more integral part of the whole VP Bank Group leveraging its full capabilities and capacity.
What is your vision for the next 30 years?
Further strengthen the position in the BVI. We are convinced that the financial center has a significant potential both for its local population as well as through its international well established value proposition and innovative power for our financial service partners here and globally. Building on this strong foundation, we plan to solidify and grow our reputation beyond the BVI into the Caribbean. The whole area has so much potential which we are happy to support flourishing.
How has the corporate culture changed over the years?
VP Bank (BVI) Ltd has always represented the values of its major shareholder, the Guido Feger Foundation. Hence, this foundation helped to credibly position the bank contributing to the local society and culture. What changed over time is linked to the expansion of the offering, how leadership involved staff and how head office included VP Bank (BVI) Ltd in the Group strategy. As with every change a period of uncertainty is involved. The members of the teams in the BVI have developed a strong culture of mastering challenges together, helping each other through difficult times and by that growing together like a big family.
How do you encourage cooperation and team spirit within the bank?
These traits were already present when I arrived in the BVI. My role was to restore confidence in leadership, demonstrating that it can be reliable, deliver on its promises, and create opportunities for everyone. Most important – in my view – was and is to establish open communication with the functional colleagues in head office and approach together existing or perceived differences.
What are you doing to support diversity and inclusion within the bank?
When talking to each other and approaching our challenges together we realise how beneficial the cultural differences across our own banking group can be. To foster that exchange we facilitate and encourage visits and short-term assignments. In line with the values of and financially supported by money from the Guido Feger foundation, VP Bank (BVI) Ltd is supporting local initiatives that promote local talent and businesses by giving them access to international expertise while sharing the rich BVI culture. At the work place we offer conditions that allow flexibility depending on the personal family and life situation.
How do you ensure that VP Bank (BVI) Ltd meets the needs of its clients?
We do this very much in line with the group-wide approach: we take time to listen to the client, understand their needs and begin the process of creating solutions that shall meet their requirements. In this process we are including our experts from head office or other locations to join in the solution design.
What moments or experiences at VP Bank have stood out in your mind?
The warm welcome of the team and its high motivation and dedication to deliver first class services to clients. Moreover, the natural beauty of the BVI and the open mindset and rich culture of the local society.
