Vontobel’s board of directors has given the go-ahead to a 12.5% reduction in the firm’s share capital.
The shareholders also gave the go-ahead to the proposed dividend of CHF1.55 per share for the 2014 financial year as against CHF 1.30 per share in 2013.
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At the same time, the firm has elected Elisabeth Bourqui to the Board of Directors as a non-executive independent member. Bourqui will replace Peter Quadri, who was not standing for re-election due to age.
All other existing members of the Board of Directors were confirmed in office for the next term.
Vontobel CEO Zeno Staub further unveiled that the firm is well positioned to absorb the impact of exchange-rate changes due to its growth in recent years as well as its strong position in Switzerland.
The firm’s client assets stood at CHF138.1bn, up by over 10% on the average asset base of CHF124.3bn in 2014 and above the CHF136.9bn posted at the end of last year.
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By GlobalDataStaub commented: "It is difficult to give forecasts for the entire financial year at this early stage, but based on the good business performance in the first three months, our assumption for H1 2015 is that we will exceed overall the strong results posted in the same period last year. We remain firmly committed to our strategic direction, and are gradually and systematically implementing our growth targets. This will be reflected in an improvement in our return on equity and operating efficiency."
