Vontobel’s  acquisition of previously announced acquisition of Notenstein La Roche Privatbank from Raiffeisen Switzerland has now been completed.

With 13 branches across Switzerland, Notenstein La Roche manages nearly CHF16bn in client assets. It also provides services to various international markets, including Germany.

The acquisition, first announced on 24 May 2018, is valued at CHF700m.

Vontobel expects the acquisition to contribute “significantly” to its wealth management profit from next year.

The company financed the transaction through existing equity and additional tier-1 bond (AT1 Bond), which was successfully placed last month.

The integration of Vontobel and Notenstein La Roche as well as the migration to Vontobel systems is expected to be achieved by the third quarter of 2018.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Vontobel wealth management head Georg Schubiger said: “Initial reactions to the takeover of Notenstein La Roche Privatbank make us feel very positive. Our new clients will in future benefit from the opportunities and expertise of a Swiss asset manager with international operations.

“Thanks to its new employees and locations, Vontobel will be even closer to its clients in the future. We will take advantage of this in the pursuit of our ambitious organic growth targets across a wider Swiss base.”