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November 15, 2012updated 04 Apr 2017 3:32pm

AUM grows at Vontobel, restructures German business

Vontobel Group has reported a steady inflow of new money in the first ten months of 2012 and announced a restructure of its German-focussed business.

By Lizabeth Davis

Vontobel Group has reported a steady inflow of new money in the first ten months of 2012 and announced a restructure of its German-focused business.

The internationally-orientated Swiss private bank said that total client assets were CHF147bn ($155bn) as of 31 October 2012 with assets under management amounting to around CHF96bn.

Vontobel said that this was an increase of over CHF5bn since mid-2012, reflecting the growth of net inflow and positive market developments. The bank reported that although numbers rose in September the rise of its overall income was moderate.

Vontobel development plans

Vontobel also outlined its strategic initiatives to develop the family-owned bank.

– It is combining its private bank in Germany with its local onshore business, based in Zurich, and placing it under joint management. Frank Wieser, the existing local head of private banking Germany will leave Vontobel Group due to the structural change.

– Vontobel Financial Products is making its derivatives platform accessible to external issuers, following the launch of open deritrade. It said that this will enable a growing client base to utilise its structured products for portfolio management.

– The bank said that its cooperation with external asset managers is progressing well and reported that at the end of October 2012 that the asset base exceeded CHF5bn for the first time.

Senior appointments

As a result of the combination of its cross-border and onshore activities in its private banking business for German clients, operational responsibility is being handed over to Roland Rötheli. Rotheli currently heads the Zurich-based business with German clients.

Bernhard Heye, who currently serves as COO of the same company will become managing director of Bank Vontobel Europe AG.

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