Bank Vontobel is discontinuing its capital markets business in order to focus more closely on private asset management and client advisory services. Exit the investment banking business and say hello to the wealth management business. By doing so, Vontobel hopes to achieve new growth potential thanks to its clear positioning.
According to him, investment expertise and technology are key skills for the future. The bank even aims to become one of the world leaders in active asset management with this refocusing of activities. Above all, Vontobel will no longer serve both investors and companies for their financing, creating the risk of conflicts of interest.
This operational change will be launched by the end of the year, before being implemented and offered to all customers by the end of the first quarter of 2020. In order to facilitate cooperation between companies in a collaborative working environment, Vontobel will bundle consulting expertise in specialised client units tailored to their needs. Investment and advisory expertise will be combined in "centres of excellence". Finally, all units will be linked by a horizontal management structure and a uniform evaluation system. The brokerage activities will be sold to Zurich Cantonal Bank.
Based on: vontobel.com