Vontobel believes there is a vast quantity of development potential in South Korea, which is home to some of the biggest and most knowledgeable asset owners in the Asia Pacific region.
The multi-boutique strategy of Vontobel Asset Management provides distinctive and innovative investment solutions across a variety of asset classes to address the demands of these important asset owners.
Yong Duk Kim will be in charge of overseeing interactions with South Korean investors.
He presents a track record of founding and expanding new businesses, as well as over 21 years of experience covering the South Korean market.
Furthermore, he formerly worked as the Korea Offshore Representative at PGIM Fixed Income before joining Vontobel.
Kim completed 15 years at UBS asset management and its joint venture in Korea, UBS Hana asset management, before joining PGIM Fixed Income.
Wei Kai Lee, head of Asia Pacific at Vontobel Asset Management, stated: “I’m pleased to welcome Yong Duk to Vontobel Asset Management. His strong and established client network will be an integral part of our efforts to bring the solutions offered by our multi-boutique platform to asset owners in Korea and to build out our presence in the region. In addition, his client-focused ethic will undoubtedly give us an edge as we strive to partner with key stakeholders to add value to their portfolios in the form of innovative investment solutions.”
Since 2008, Vontobel Asset Management has operated in the Asia Pacific region, with offices in Hong Kong, Singapore, Tokyo, and Sydney.
In the first half of 2023, Vontobel’s Wealth Management division had a very profitable period in both its target markets and its Swiss home market.
Vontobel recorded pre-tax profit of CHF150.3m ($171m) in H1 2023, more than the CHF87m in H2 2022, but less year-on-year.
In H1 2022, the arm earned CHF180.4m, which reflected the strong start to the year before war in Ukraine broke out.
Furthermore, group net profit totalled CHF127.6m in H1 2023 for Vontobel, compared to CHF 151.4m in the same timeframe last year.