Best Private Banking Boutique - Bank Vontobel

Bank Vontobel, always perceived as a German-focused institution in Zurich, has sometimes been left behind in the vast expansion of private banking which has benefited its competitors such as Julius Baer.

But the recent installation of former asset management boss Zeno Staub as head of the group shows that investment skills and asset allocation know-how are now seen as key attributes right across the bank’s business lines.

While the group runs SFr130bn in managed assets, most of this money is managed on behalf of institutional clients. Private clients, accounting for around SFr30bn, are now a major target in Mr Staub’s expansion plan. He hopes to boost the assets they hold to SFr50bn within three years. He also has plans to internationalise the currently, mainly Swiss, client base. The US market, now ignored by many competitors fearful of antagonising the country’s aggressive and far-reaching authorities, is seen as providing an excellent long-term opportunity. YB