Vontobel completes acquisition of UBS Swiss Financial Advisers
- Vontobel will become the largest Swiss-domiciled wealth manager for US clients seeking an account in Switzerland for diversification purposes
- The transaction is part of Vontobel’s long-term growth strategy in the US
- UBS USA will continue to refer clients with a US connection seeking regionally diversified strategies in a Swiss based environment exclusively to Vontobel SFA
Vontobel (SWX: VONN), the global investment firm, today announced the closing of the acquisition of UBS Swiss Financial Advisers AG (SFA), effective August 1, 2022. With this transaction, which was announced on December 16, 2021, Vontobel is further strengthening its platform providing clients with a global investment approach and geographic diversification. Prior to the acquisition, Vontobel – through Vontobel Swiss Wealth Advisors (VSWA) – already ranked as one of the leading Swiss-domiciled providers of wealth management investment solutions for US and qualified Canadian investors.
Together with the renamed Vontobel SFA’s assets under management (around CHF 6.0 billion as of June 30, 2022), Vontobel – through its SEC-licensed entities – will become the largest Swiss-domiciled wealth manager for US clients seeking an account in Switzerland for diversification purposes. The combined pro forma assets under management will more than double to around CHF 10 billion.
Vontobel plans to carry out the operational and legal combination of Vontobel SFA and VSWA, its existing business serving North American wealth management clients, in the first half of 2023. The relevant preparations have already begun.
The investment firm Vontobel and UBS have also agreed that in the future, the around 6,000 UBS advisors across all US states will continue to refer clients with a US connection seeking tailored investment solutions in a Swiss-based environment exclusively to their partner Vontobel SFA.
“In view of global developments, Vontobel is strengthening its focus on large and established markets that have a significant number of discerning clients who are seeking a globally active investment advisor. The US continues to rank as the world’s largest investment market with many wealthy clients who want to diversify their portfolios geographically and are therefore looking for high-quality advice. With Vontobel SFA, we will become the leading Swiss partner for these American clients. The past few months have confirmed that SFA and VSWA are an ideal fit. Both teams have the same understanding of quality, excellent client service, client needs and the market. At the same time, they will complement each other. The team, which has been significantly strengthened, and the agreement with UBS, will create opportunities for the future growth of the business with American clients,” stated Georg Schubiger, Chair VSWA and Vontobel SFA and Head Wealth Management at Vontobel.
The transaction was fully funded with cash from Vontobel’s balance sheet. After the transaction, Vontobel will continue to have robust CET1 and Tier 1 capital ratios.
Vontobel has been present in the US since 1984 for institutional clients with asset management and for American private clients through VSWA since 2005.