Swiss asset and wealth manager Vontobel Holding has reported that its advised client assets reached CHF142bn for the third quarter ended 30 September 2015, exceeding the level at end-2014 and in line with mid-2015.
The Swiss bank’s net new money stood at CHF7.3bn since the start of 2015.
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The company said that the net inflows of new money originated primarily from the multi asset class and fixed income boutiques, driven in particular by the corporate and flexible bonds segments.
For the third quarter of 2015, wealth management and asset management units recorded total net new money of CHF0.9bn.
In 2015, Vontobel has acquired TwentyFour Asset Management to expand its presence in the UK as well as Finter Bank Zurich to boost its presence in its Swiss home market.
Vontobel CEO Zeno Staub said: "With the systematic and focused execution of our strategy, we are ideally positioned to perform well even in a difficult market environment and to resolutely continue our profitable and sustainable growth. These two acquisitions will support these efforts."
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By GlobalDataSince 2013, the group’s wealth management unit has achieved organic growth of almost 6% per annum.
The group said that the number of client advisors increases by 5% for the third quarter as a result of new hires.
The volume of structured products issued via the company’s digital platform for structured products, deritrade MIP, reached over CHF0.5bn for the quarter, a threefold increase compared to the same period of 2014.
Vontobel is planning to make targeted acquisitions in private banking or asset management. The company intends to deliver a solid result for the full year 2015 and currently anticipates that it will exceed the result for the previous year.
"As anticipated, the second half of 2015 is proving weaker than the first half of the year due to seasonal effects," the bank said in a statement.
