Swiss asset manager Vontobel has unveiled plans to develop its business with external asset managers (EAMs) and family offices in Asia.

The firm anticipates the market to grow by more than 30% annually. It said that in Singapore and Hong Kong alone, nearly 150 EAMs and multi-family offices manage around CHF100bn in assets for HNW clients, offering them investment banking, asset management, and wealth management services.

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Vontobel head of EAM Brian Fischer said: “Vontobel is expanding its regional reach, subject to relevant regulatory approvals being obtained, to secure access to global investment expertise and has a globally established digital platform for EAMs and family offices in EAMNet.

“On top of this, Vontobel can offer its partners, services for dealing with US persons in Asia.”

The firm appointed Georg von Wattenwyl to develop the EAM business in Asia, with effect from 1 January 2019.

Having managed Vontobel’s financial products, advisory and distribution arm for 11 years, Wattenwyl will now also be responsible for the sale of EAM-related products to family offices.

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Vontobel Investment Banking head Roger Studer said: “Asia is one of the focus markets in which Vontobel aims to take advantage of the vast scope for growth.”

Earlier in October, Vontobel announced it was buying Lombard Odier US private clients portfolio.