Vontobel client assets totalled CHF209.4bn at the end of the third quarter of 2018, an increase of 19% from the previous year.

The rise was said to be driven by its recent takeover of Notenstein La Roche from Raiffeisen Switzerland. The deal was completed in July this year.

The Swiss asset manager’s net new money growth was within the target range of 4% to 6%.

Asset management posted the strongest growth in net new money. The rise was said to be driven by fixed-income and multi-asset solutions and sustainable strategies.

Advised client assets in combined Wealth Management, including the assets of former Notenstein La Roche Privatbank, totalled CHF74.2bn at the end of this third quarter. The figure marked a surge of 41% compared to client assets of CHF52.7bn last year.

Vontobel CEO Zeno Staub said: “Our growth in 2018 confirms that clients are satisfied with the breadth and quality of services Vontobel provides. We are aware that our success depends heavily on the markets. The political backdrop in particular is increasingly unsettling the business world and ultimately our clients. Nevertheless, we are maintaining our targets in terms of solid, long-term growth.

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“To this end, we focus on organic growth first and foremost, complementing this with acquisitions such as the US wealth management portfolio of Lombard Odier and adding fresh impetus through Notenstein La Roche.”