Asset management has become a growing source of growth for Swiss private bank Vontobel. The company has decided to open a branch in Paris as it expects this development to continue.
Asset management has been a major pillar of Vontobel's strategy since the last reorganization in 2019. The Zurich-based private bank has now decided to broaden its appeal in France and to open a branch in Paris, from where it will market the investment products of the house, it said in a statement on Thursday.
Vontobel’s asset management has had a cooperation agreement with Hexagone Finance for the distribution of funds since 2015. The bank expects the Paris branch to accelerate the sales of its products to wealth managers in the neighboring country.
Big Growth Potential
Thibault Amand (pictured above) has taken charge of the office in Paris. He joined from Vontobel’s partner Hexagone Finance where he was responsible for French wholesale clients. Previously, Amand held leading positions at Aviva Investors, Mirabaud’s asset management division and Deutsche's asset management.
France is Europe’s fourth-largest fund market with significant potential for further growth, Vontobel said.
