Swiss bank opens to draw European clients

PUBLISHED : Tuesday, 22 November, 1994, 12:00am
UPDATED : Tuesday, 22 November, 1994, 12:00am

SWISS companies and European investors are the target of a Swiss canton bank which opened a branch office in Hong Kong yesterday.

The third-largest Swiss canton bank, Banque Cantonale Vaudoise (BCV), with assets over 32 billion Swiss francs (about HK$187.52 billion), opened its second Asian branch office to meet the needs of Swiss clients investing in Asia.

Senior vice-president Charles Denervaud said the bank was moving from a 'product approach to global approach. If we want to keep our clients we have to follow them abroad'.

Managing director Olivier Mivelaz said the bank's presence was a two-way process.

It could give vital regional information to medium to small-sized European companies interested but were daunted by the language barrier in the region, while Asian companies could receive a transfer of technology.

'We are here mainly to help Swiss to come to this part of the world.' Chief representative in Hong Kong, Ricardo Rodrigues, said the new office would provide local information for investors.