Switzerland’s Vontobel has signed a memorandum of understanding (MoU) with Asia-Pacific bank ANZ to provide expertise in global investments, structured products and tools, client advisory and client processes to the private banking business of ANZ.
The business with and for the clients of third-party banks forms part of Vontobel’s growth strategy and enables it to accelerate its entry into new market areas, thus complementing its own client acquisition and distribution activities. Under the planned alliance with ANZ – which is expected to commence in the first half of 2013 – Vontobel’s investment and product expertise will be offered via an extensive distribution network across the region and will thus be made available in multiple locations in Asia Pacific.
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ANZ Global Wealth and Private Banking CEO Joyce Phillips said: "This Memorandum of Understanding is another step in bringing our super regional strategy to life in ANZ Private Bank. The planned alliance will bring a truly global perspective to the way we view investments as part of a strategy to provide clients with a holistic approach to managing their wealth."
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