The Swiss asset manager’s advised client assets too grew, though net new money flows dipped.
Vontobel’s profit after taxes was CHF384m in 2021, versus CHF259m a year ago, while pre-tax profit soared 46% year-on-year to CHF467m.
Operating income of CHF1.54bn was 21% higher than the 2020 figure of CHF1.27bn.
Collectively, wealth management and asset management raked in 80% of last year’s income.
Operating income in global business with wealth management clients rose 15% to CHF634m from CHF550m, while that of asset management clients grew 15% to CHF594m from CHF515m.
In digital investing, operating income surged 72% to CHF316m from CHF184m.
The firm’s advised client assets were CHF268.1bn in 2021, up 8% from CHF248.2bn in 2020, with notable rise in advised client assets of wealth management clients.
Net new money at Vontobel fell CHF8.1bn in 2021 from CHF14.8bn in the prior year.
Wealth management contributed to net inflows of CHF5.6bn, while asset management accounted for CHF1.9bn.
The CET1 capital ratio of Vontobel at the end of 2021 stood at 16.6%, compared to 13.8% in 2020. Its Tier 1 capital ratio was 23.4% at the end of 2021, compared to 19.8% in the previous year.
Both the ratios surpassed the minimum regulatory requirements and the firm’s own mid-term targets.
The firm’s board will propose a dividend of CHF3 per share, which is one-third higher than a year earlier.
Vontobel CEO Zeno Staub said: “Vontobel will strive to achieve further high-quality and profitable growth in all areas of the business in future, while ensuring that such growth is proportionate and maintaining our conservative risk profile that has proved successful.
“For this reason, Vontobel is specifically pursuing a capital-light growth strategy with a conservative risk profile – in terms of both organic and inorganic growth.”