Vontobel is strengthening its growth initiatives in wealth management. Unit head Georg Schubiger revealed in an interview with finews.ch-TV what plans it has for its new digital hub.
Bank Vontobel has built a new digital hub in Wollishofen, just outside the Zurich city center, and well away from its headquarters in the Gotthardstrasse. «We call it Wolly Valley», said Georg Schubiger, head of Vontobel’s wealth management, told finews.ch-TV in an interview:
Vontobel is certainly not looking to provide competition for Crypto Valley in Zug or Silicon Valley in San Francisco. The name «Wolly Valley» is more a description by Vontobel for its innovative culture.
Affluent vs Ultra-Wealthy
The bank has esconced client advisers, software engineers, IT experts and product developers in «Wolly Valley». The move is a bid to work hand-in-hand to seek digital solutions to improve processes, services and operations for wealth management.
Vontobel has already gathered valuable experience in developing the derivatives platform deritrade, according to Schubiger. «We can now shorten decision processes and development cycles», he said. Vontobel is well able, with the aid of technical solutions, to improve and quicken internal processes and client advisory methods.
«We are also constantly evaluating whether we can target new client groups», Schubiger added. Added efficiency enables Vontobel for example to increase the number of clients in the affluent-business area. The goal is also to allow this segment access to products and services which otherwise would only be available to ultra-wealthy clients.
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