Swiss asset manager Vontobel has registered a net income of CHF265.1m ($271.6m) in 2019, an increase of 14% from 2018.
Profit rose 4% year-on-year to CHF258.9m when adjusted for one-off exceptional items.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Among these exceptional items are expenses associated with the integration with Notenstein La Roche.
Advised client assets increased to CHF226.1bn from CHF192.6bn. Notable growth was recorded in sustainable investments, which increased from CHF23.3bn to CHF30.7bn.
Vontobel CEO Zeno Staub said: “Our good financial result confirms the positive growth and earnings trend that was already visible in mid-2019. Vontobel remained on course again last year.
“Our investments in new talents and technologies in recent years have paid off. Vontobel will continue to focus on growth in the future.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAsset management drives growth
Net new money at the group was CHF11.7bn. Asset management continued to be the growth driver, contributing to net inflows of CHF11bn.
The Fixed Income boutique, comprising TwentyFour Asset Management, Multi Asset and Sustainable Equities, accounted for strong inflows.
Advised client assets at the unit soared 17% to CHF137.7bn.
The firm intends to continue its growth in Asset Management this year too by investing in the US, Japan, and France.
Combined wealth management shines
In combined wealth management, pretax profit surged 21% to CHF147.4m from CHF121.6m.
Advised client assets at the unit increased to CHF76.5bn in 2019 from CHF67.2bn a year ago, with CHF500m in net inflows.
The cost/income ratio improved to 69.5% in 2019 from 71.3% in the prior year, with gross margin remaining flat at 68 basis points.
The performance was said to be driven by the takeovers of Notenstein La Roche Privatbank and Lombard Odier US-based private clients portfolio.
For this year, plans are on to expand services for financial intermediaries including External Asset Managers.
“This is an area in which Vontobel has identified growth potential not only in its Swiss home market but especially also in Germany and Asia,” the asset manager said.
