Vontobel grew its pre-tax profit in the first nine months and met its net new money target.
The Zurich-based investment house's pre-tax profit in the first nine months was significantly higher than last year's level, driven by its new digital investing unit, according to a statement Wednesday.
The investment manager, which does not provide exact figures, saw 6.4 percent growth in private banking and its activity with external asset managers. Business with institutional clients also rose by 2.3 percent.
Healthy Rise In Assets
Wealth management's new assets over the past three quarters amounted to 3.9 billion Swiss francs ($4.3 billion). Institutional clients entrusted 2.3 billion francs to the wealth manager.
Altogether, client assets under management amounted to 266 billion francs at the end of September, representing a 16 percent rise for the same period last year.
Investing: the New Saving
«The good net inflow of new money supports our theory that investing is the new form of saving,» CEO Zeno Staub says. Going forward, Vontobel will spend on investment and product expertise as well as technology.
«We remain confident that we can achieve our own ambitious 2022 targets,» he adds.
