Swiss asset and wealth manager Vontobel has recorded a net profit of CHF97.8m in the first half of 2015 ended 30 June 2015, an increase of 33% compared to CHF73.5m a year ago.
The Swiss bank’s net new money in 2014 stood at CHF6.4bn. It had CHF142.2bn in advised clients assets for the first half of 2015, an increase of 15% compared to 30 June 2014.
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Vontobel has generated a total operating income of CHF507.6m in the first half on 2015, up 16% compared to the same period of the previous year.
Pre-tax profit from asset management unit jumped 54% to CHF67.9m. Advised client assets at the unit reached a record CHF 95.8bn.
The group reported net new money from clients in private banking and from external asset managers (EAMs) of CHF1.1bn in the first half of 2015, mainly driven by inflows from Switzerland, Germany, the US, and emerging markets.
The acquisition of TwentyFour Asset Management has made a positive contribution to Vontobel’s results for two months in the first half of the year. The Fixed Income boutique currently has CHF18.3bn of assets under management, an increase of 71% since the start of the year.
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By GlobalDataVontobel Financial Products has increased its pre-tax profit by 41% to CHF38.4m reflecting its outstanding service level.
Additionally, Vontobel will particularly focus on emerging markets in Asia Pacific with plans to at least double its current business volume in the region by 2020.
Vontobel’s earnings per share rose by 52% and return on equity was 13.6% in the first half of 2015. The cost/income ratio was improved to 75.7%.
