Vontobel is merging two asset management divisions under a new head. The move comes at the expense of the firm's chief strategist.
Vontobel's asset management is merging its multi-asset class boutique into a quantitative boutique which will operate as Vescore. The newly-created multi-asset boutique will manage 40 billion Swiss francs ($40.4 billion), Vontobel said in a statement on Wednesday.
As a result, Christophe Bernard is leaving Vontobel. The French banker had run the multi-asset area until now, but was also Vontobel's investment chief for asset management.
Quant Specialist Takes Over
The bank has appointed Daniel Seiler (pictured below), a quant specialist who has led Vescore, to head the newly-merged unit. Vontobel bought Vescore from battered Swiss bank Raiffeisen last year.
Seiler will take over the management duties of Bernard, who will leave Vontobel as soon as a transfer has been concluded. Vontobel poached the 54-year-old from Union Bancaire Privée in 2012. Bernard was a well-known face for the private bank, providing market and economic commentary.
The bank named Lars Kalbreier as its investment chief for wealth management last year. Since then, Kalbreier has largely communicated the bank's investment views.
