Swiss private bank Vontobel has said that it’s advised client assets increased to CHF217.1bn ($218.6bn) at the end of Q3 2019.

As of 30 June 2019, the firm’s advised client assets were CHF212.9bn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The growth was said to be driven by the market development and good performance of investment strategies that positively affected Combined Wealth Management and Asset Management segments.

Asset Management continued to be the firm’s most profitable unit, reporting net new money growth of 14%. The target range is 4-6%.

Vontobel attributed the growth to the Fixed Income Boutique, including TwentyFour Asset Management. Multi Asset as well as Sustainable & Thematic Investing also contributed to the performance of the business, the firm noted.

Advised client assets at the unit totalled CHF131.9bn at the end of September 2019, versus CHF117.5bn as of 31 December 2018.

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.

Company Profile – free sample

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 GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Combined Wealth Management too remained profitable with advised client assets of CHF73.6bn at the end of September 2019. At the end of 2018, the figure was CHF67.2bn.

However, the business recorded CHF200m in outflows, with new new money growth remaining under the 4-6% target range.

Overall, Vontobel’s net inflows  in the past nine months exceeded its 4-6% target range.

Vontobel CEO Zeno Staub said: “By making targeted investments, we are harnessing future opportunities for the benefit of our clients and thus also of Vontobel. We are actively addressing change within our industry and are acting from a position of strength.

“This means that in the future – like today – we won’t forego longer-term opportunities for growth in order to achieve short-term cost targets. We remain committed to our ambitious profit and growth targets for 2020 and will, at the same time, pursue our differentiated and carefully considered cost management approach.”