Swiss asset and wealth manager Vontobel has outlined its targets for growth, profitability, capital and dividends for the years through 2020.
In its presentations to investors, the company said it wants to achieve net new money growth of between 4–6% by 2020. It will now target return on equity of over 12% and a cost/income ratio of less than 75%.
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For its asset management unit, Vontobel has set a cost-income ratio target of less than 65% and want to retain gross margin of over 40 basis points.
Its wealth management business line will aim organic net new money growth of over 10% in Switzerland, North America and selected emerging markets. The group said it wants the division to retain its gross margin of more than 65 basis points. The cost-income ratio for 2020 targeted for this division is less than 75%.
The financial markets division has been given cost-income ratio target of 65% and operating income of over CHF300m. The division will also foray into new markets in Asia Pacific as well as expand its offering in Europe.
Vontobel CEO Zeno Staub said: “We have already delivered growth across all our business lines in the last few years but we are now aiming higher. We have sharpened our value proposition and defined ambitious new goals based on our business model and core competencies and we are ready to embark on the next phase of growth.”
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By GlobalData
