Vontobel is poaching a top UBS banker to built its wealth management arm in Germany.
Daniela Diethelm is taking over Vontobel's wealth management in Germany and northern Europe from June, the Swiss private bank said on Tuesday. She replaces Roland Roetheli, who led the region in the last ten years and becomes a vice-chairman of Vontobel in Germany. He will continue to advise key clients.
Diethelm is a veteran Swiss banker with years of experience with Germany at UBS, where she began her career in 1993. She is currently responsible for business development at UBS' private banking arm for Europe, the Middle East, and Africa. Diethelm will become part of the management of Vontobel's private banking arm, which is led by Georg Schubiger.
German Focus
Under German-Swiss banker Herbert Scheidt, Vontobel has long cultivated Germany for growth. Roughly 12 percent of assets stem from the neighbor to Switzerland's north, making Germany Vontobel's most important foreign market.
The bank maintains offices in Munich and Hamburg, led by Thomas Fischer. Germany remains a focus market and a significant contributor for years to Vontobel's profits, the bank said.
