Vontobel has finalised its acquisition of IHAG Privatbank’s client book, a move first announced on 19 September 2024. This deal enhances Vontobel’s presence in the DACH region (Germany, Austria, Switzerland), bolstering its private client’s segment.
IHAG clients will now gain access to Vontobel’s global investment expertise, tailored financial advice, and advanced digital tools.
Go deeper with GlobalData
The transaction, which was financed through Vontobel’s existing capital, has had a positive impact on the company’s group net profit from the outset. Specific terms of the deal remain confidential.
This strategic acquisition underscores Vontobel’s commitment to growth and its position as a primary private bank in the region.
Moreover, in December at the 9th Annual Private Banking Conference & Awards Switzerland 2024 event, hosted in Zurich, Dr Reto Cueni, chief economist at Vontobel, spoke on the long road to sustainability.
Sustainability and ESG are common topics in private banking now and Cueni said: “Many people think in different terms when it comes to sustainability.”
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.
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 GlobalDataWhen it comes to Vontobel, it utilises ESG assessments during the valuation process with 15 equal-weighted factors to aid the process.
About the road to sustainability, Cueni explained: “When we talk about ESG and sustainability, we talk about the green transition and where we want to end up in a sustainable world. It would be nice if we were already there, but to achieve it, you need a lot of minerals and metals. You need a lot of resources to make the green transition happen.”
He continued: “Everyone is pointing towards more. The question is to increase or decrease growth when it comes to metal consumption.
“A lot of trade and new production needs to keep pace and in order to get there, you need to use a lot of energy.
“It’s due to population growth and an increase in living standards. Both of these lead to a higher energy demand.”
However, Cueni warned that there was a lot more to sustainability than just physical resources.
