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07-10-2010
Vontobel establishes new unit to serve US private clients
The Vontobel Group has established a new company, Vontobel Swiss Wealth Advisors AG, to serve the needs of American clients with declared assets. The company will
be domiciled in Zurich and regulated by the US Securities and Exchange Commission (SEC). Martin Steger (aged 37) will be responsible for the operational management of the new
company.
Increasing numbers of American private clients are seeking investment opportunities outside the US. However, US wealth and asset managers cannot - or can only partly -
meet the growing demand for investments in European and Asian equities or foreign currencies. As a result, these clients are now looking for reliable financial partners with a
good international track record in this field.
Vontobel Swiss Wealth Advisors AG will focus on providing wealth and asset management services that are specially tailored to US requirements. Its offering will be targeted at
American private clients with declared assets as well as external asset managers with a corresponding client base. Vontobel Securities AG, the Vontobel Group's existing
SEC-licensed broker, will execute the transactions for the securities portfolios. "The situation facing US clients has altered significantly during recent months as a result of
more stringent US tax legislation. As an internationally active wealth and asset manager, we believe it is our duty to offer our clients appropriate solutions that take account of
these changes. We have therefore developed a viable long-term solution for US citizens living in or outside the US, as well as for non-US citizens residing in the US, that is
compliant with regulatory requirements," stated Peter Fanconi, Head of Private Banking at the Vontobel Group.
Vontobel Group
The Vontobel Group is an internationally-oriented Swiss private bank. The family-owned bank was first established in Zurich in 1924. Vontobel specializes in wealth management for
private clients and asset management for institutional investors, as well as investment banking. At the end of December 2009, the Group held around CHF 115 bn of assets. More
than 1,400 employees worldwide provide first-rate, customized services for clients with an international focus. The registered shares of Vontobel Holding AG are listed on the SIX
Swiss Exchange. The Vontobel families and the Vontobel Foundation hold the majority of shares and votes in the company.
Contacts
Media Relations: Reto Giudicetti
+41 (0)58 283 61 63
Investor Relations: Susanne Borer
+41 (0)58 283 73 29
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