Annual Report 2002

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Activities of the Trust Banking Division Trust Banking, Corporate Clients and IT Our Trust Banking Division provides services to external trust administrators and asset managers, as well as to commerce and industry. It also develops and enhances customer-specific IT solutions. Trust Banking – strong partnerships with trust administrators and asset managers Independence, professional competence and focused advice – those are attributes sought by external trust officers and asset managers. They work on behalf of their mandators, and the sense of true partnership that they share with us is a key element in our business relationship. That requires efficiency in the way instructions and transactions are carried out – something which, for us, is a matter of course. The Principality of Liechtenstein affords ideal conditions and outstanding infrastructure for the activities of fiduciaries and money managers. We know our home market, yet our reach is international - two prerequisites for a long-term partnership built on trust. Clients value our tailor-made Internet banking platform “VP Link” and make regular use of it. Our firmly anchored regional presence earns the trust of corporate customers Many large and medium-sized companies in Liechtenstein and the surrounding region know us as solid partners for the funding of specific projects. Our client advisors visit them regularly in order to gain a keen personal understanding of the business circumstances and activities of those corporate customers. page 50 | vp bank | annual report <strong>2002</strong> Partnership Together, we design tailored solutions to meet their needs. That is also the way we go about our mortgage-lending activities. And thus the circle closes quickly: entrepreneurs know us for our reliability in arranging short-term borrowing facilities; private individuals know us as providers of financing for their house. This demonstrates that we are indeed a personal partner – not just for the present, but also for many years to come. In the recent past, we have not let it suffice to focus our activities solely on the Principality of Liechtenstein, but have instead extended our reach into the surrounding region. As a result, we have attracted an even broader client base. Information Technology – in the service of our clients By introducing a central data-warehouse solution, VP Bank established a platform for the continuing development of the Bank’s Zurich and British Virgin Islands subsidiaries. With this system, each branch’s client-specific identification data remain locally stored in its own discrete database. The “Titan” project is implementing a modular, highly redundant network throughout the VP Bank Group, a mechanism so flexible that it enables the Bank to assess the IT and business needs that will arise over the next decade. Thanks to an optimization project, we have been able to realize a 25 % reduction in the costs associated with providing financial information services. A new cost-allocation scheme based on a service level agreement enables detailed underlying and production costs to be tracked. That, in turn, optimizes our IT cost structure and frees up financial resources for targeted deployment wherever the greatest client benefit is to be achieved.
Client Investment Management, Bank Capital Management and Production Clients and their investment needs take center stage. The portfolio management activities of VP Bank are designed to meet the needs of both private and institutional investors. Investment funds are just as integral to our spectrum of services as are client order execution, financial advice and tailored investment strategies. Product development is yet another task handled by our Investment Management team. Our Backoffice and Settlement departments enhance efficiency and ensure the quality and reliability of the Bank’s securities trading activities. Investment Management: Half of the gain is based on information... Without knowledge, no advice can be given. The key to fostering a personal relationship and close partnership with clients is information, combined with in-depth knowledge of the financial markets and specific investment vehicles. Our Investment Management group investigates, analyzes and compiles the relevant market-related information. It anticipates trends and developments, responds accordingly and creates proprietary investment products. VP Bank makes every effort to pass on information to clients as quickly and appropriately as possible – so that tomorrow as well as today they have tangible evidence of their being at the bank that is right for them. Intelligence Activities of the Investment Management Division Professional capital management: ...the other half comes from know-how For us, portfolio management means permanently safeguarding and continually increasing the wealth of our clients. And to achieve that goal, our investment specialists work round-the-clock in the conscientious and professional administration of our clients’ investments. VP Bank Fondsleitung AG administers the investment funds that have been created by the parent bank. It monitors the product portfolio on an ongoing basis and adapts it to the needs of clients and circumstances in the financial markets. Moreover, our IFOS Internationale Fonds Service AG subsidiary is a fund management company in accordance with Liechtenstein law. Its range of services encompasses the founding and administration of third-party investment funds. Thus IFOS affords institutional investors such as asset management, trust and insurance companies, as well as occupational benefits plans, the opportunity to establish their own investment funds. Our Product Management unit is embedded in this VP Bank division. It bears responsibility for the targeted development of new products aimed at meeting our clients’ needs both today and in the future. Over the past years, our Backoffice and Settlement departments have resolutely focused on enhancing the efficiency and professionalism of the Bank’s internal processes. As a result, we have been able to realize significant increases both in the cost-effectiveness and quality of our activities in the area of securities settlement and administration. annual report <strong>2002</strong> | vp bank | page 51
Page 1 and 2: Annual Report 2002
Page 3 and 4: Contents 4 Where does the path lead
Page 5 and 6: Turning visions into reality is abo
Page 7 and 8: What sets VP Bank apart? Profession
Page 9 and 10: Key figures of the consolidated bal
Page 11 and 12: Introductory remarks by the Chairma
Page 13 and 14: Adolf E. Real Chief Executive Offic
Page 15 and 16: gratifying, and we would like to ex
Page 17 and 18: Understanding Welcome Assessment Di
Page 19 and 20: Private Clients Trust Banking Inves
Page 21 and 22: Board of Management adolf e. real d
Page 23 and 24: Adolf E. Real, dipl. Ing. ETH, MBA
Page 25 and 26: International Advisory Board hans b
Page 27 and 28: Corporate Governance This report de
Page 29 and 30: 2. Capital structure 2.1 Capital Th
Page 31 and 32: 2.4 Shares The bearer shares of VP
Page 33 and 34: 3. Board of Directors The Board of
Page 35 and 36: Walo Frischknecht (born October 7,
Page 37 and 38: 3.5.3 Working methods of the Board
Page 39 and 40: 4. Board of Management The Board of
Page 41 and 42: April 1998, Mr. Wohlwend has borne
Page 43 and 44: 5.4 Share allotment in the year und
Page 45 and 46: 6.4 Agenda The determination of the
Page 47 and 48: 9. Information policy The legally p
Page 49: Relationship Wealth management à l
Page 53 and 54: Luxembourg Vaduz larly appreciate t
Page 55 and 56: Media and Investor Relations: Verwa

Annual Report 2002

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