Vontobel seeks to expand presence in Asia Pacific – targeted development of business in new growth markets

 

The Vontobel Group, which is headquartered in Switzerland, has signed a Memorandum of Understanding (MoU) with Australia and New Zealand Banking Group Limited (ANZ) with the aim of expanding its activities in Asia Pacific – primarily in the growth markets of Australia, New Zealand, Hong Kong and Singapore. As part of the defined cooperation strategy, Vontobel will provide expertise in global investments, structured products and tools, client advisory and client processes to the private banking business of ANZ, which is the third largest financial institution in Australia and the largest in New Zealand.

The business with and for the clients of third-party banks forms part of Vontobel's growth strategy and enables it to accelerate its entry into new market areas, thus complementing its own client acquisition and distribution activities. Under the planned alliance with ANZ – which is expected to commence in the first half of 2013 – Vontobel's investment and product expertise will be offered via an extensive distribution network across the region and will thus be made available in multiple locations in Asia Pacific. ANZ Global Wealth and Private Banking CEO Joyce Phillips said: "This Memorandum of Understanding is another step in bringing our super regional strategy to life in ANZ Private Bank. The planned alliance will bring a truly global perspective to the way we view investments as part of a strategy to provide clients with a holistic approach to managing their wealth."

ANZ, which aims to grow its own private banking business in Asia Pacific, wants to use Vontobel's expertise in the areas of investment management and structured products as well as in its advisory services for wealthy ANZ private clients. The support that Vontobel intends to provide in the area of investment management will mainly focus on global asset allocation, discretionary portfolio management and selected investment products. Zeno Staub, CEO of the Vontobel Group, stated: "We are proud to be able to support ANZ in the growth and further development of its private banking business through our investment and product expertise." He added: "The planned alliance with ANZ offers attractive growth potential for our Group and is a perfect example of our efforts to systematically extend our business activities into new growth markets."

Contacts

Media Relations:	Reto Giudicetti	+41 (0)58 283 61 63
Investor Relations:	Susanne Borer	+41 (0)58 283 73 29