Swiss-headquartered Vontobel saw assets under management from its private client segment reach a new record in the first half of 2024.
In the first half of 2024, Vontobel’s profit before tax rose 12 percent year-on-year to 173.3 million Swiss francs ($196.7 million), according to the bank’s financial results.
Operating income grew 4 percent to 727.7 million francs, mainly due to higher client activity. The private client segment contributed 530.8 million francs, up 10 percent, while the institutional client segment contributed 197.4 million francs. The bank’s cost/income ratio improved from 77.8 percent in the prior year to 76.1 percent.
Record Private Client AUM
Assets under management (AUM) reached 225.9 billion, up 9 percent compared to end-2023, with the private client segment surpassing 100 billion francs for the first time ever.
Net inflows of 2.3 billion francs partly drove AUM growth. 2.4 billion francs of private client inflows were offset by 100 million francs of institutional client outflows. Overall, Vontobel's co-CEOs, Georg Schubiger and Christel Rendu de Lint, delivered a good performance in the first half of 2024.
Closing of Ancala Deal
The Swiss bank also reported the successful closing of a significant minority stake in Ancala, an independent infrastructure manager with a portfolio of 4 billion euros ($4.3 billion) in assets, according to its website.
«This transaction marks a milestone in Vontobel’s private markets strategy and provides investment capabilities in the fast-growing private infrastructure segment,» the bank commented. «It further expands Vontobel’s offering of diversified, active investment strategies with attractive long-term growth potential.»
