Bank Vontobel a break with the past

to bring A company to the stock exchange, has long been regarded as one of the most profitable operations in the Banking. But for years, complaints banks and consultant for over a harzigeres business. To some extent, they are no longer involved at all. Also, the Bank Vontobel played in this market for a long time, but could bring in the current year, no company listed on the stock exchange. Now the conclusion is: In the new strategy, the IPOs has no place.

Around two dozen employees are in this area at Vontobel active. The Team in London, where currently six people are employed, should move to the Zürcher Kantonalbank (ZKB). "The proposed Acquisition in London and the ZKB direct access to major global investors," said a ZKB spokesman. The offer for Swiss clients with capital market needs could be improved. For the rest of the Vontobel employee is to be found, according to the Bank's chief Zeno dust if possible, with a new place.

stock positive

The only part of a fundamentally new structure of the Bank Vontobel. According to dust, the existing allocation of business units is not in accordance with the Institute time. The customer wants a Bank to a single solution, regardless of which unit this was coming. Economic pressure does not exist for the tag, but: "We can change, while it is good for us," says dust.

The client assets of the Bank have increased to 225 billion Swiss francs net new money growth of 7% and the 11-month result is better than in the previous year. Vontobel shares reacted positively on the announcement and rose more than 1 percent.

The realignment will have an impact in the short term, rarely on the business. The discontinued revenues are consistent with the savings due to the reorganization. In the long term, the better customers will beat guidance in higher revenues. The Bank Vontobel wants to get in, for example, in the business with super-rich customers. This, although the competition is already large. All major Swiss banks have announced in recent months that the very wealthy customer.

The pure sale of financial products plays at Vontobel, although no role, but it should be no degradation in the business with structured products. They are to remain, according to the dust-an important pillar of the Bank, even if they earned last less.

However, the financial products are in the new organizational structure, not a separate division anymore. As a result, the role of the former Investment-Banking chief Roger Studer is superfluous. He acknowledges, therefore, his Post is Vontobel remain as a representative in various bodies. Because the separation of the course, by common accord, should Studer retain its Vontobel shares.

Created: 09.12.2019, 20:39 PM