Vontobel said it has completed the acquisition of asset management portfolio from Notenstein La Roche with the transfer of clients and the full integration of around 10 employees based in Zurich.
“With the closing of the transaction and the integration of the new employees into Vontobel’s existing team, we are complementing our organic growth in the region and are further expanding our strong capabilities in this market,” stated Georg Schubiger, Head of Vontobel Wealth Management.
Vontobel Wealth Management continued to achieve organic growth that was both above benchmark and above its target range in 2017. At the end of the third quarter of 2017 – and before the consolidation of the newly acquired Eastern European asset management portfolio – Wealth Management and the External Asset Managers (EAM) business had over CHF 50 billion of advised client assets. The growth in net new money of more than 5%, exceeding the market average, was supplemented by the acquisition of Finter Bank in 2015 and of the above-mentioned client portfolio from Notenstein La Roche.
In addition, Vontobel Wealth Management has expanded its international business in recent years with the establishment of a new team covering Latin America as well as the opening of new offices serving US clients in Geneva, Dallas and New York. Vontobel will seek to further expand its Wealth Management business in the future – primarily through organic growth.