Vontobel delivers strong growth in profitability

• Profit before tax (PBT) up 32 percent, reaching CHF 354 million
• Operating income up 9 percent to CHF 1,423 million, with growth in both Private and Institutional Clients
• Assets under management up in both client segments, plus 11 percent to CHF 229 billion with net new money CHF 2.6 billion
• Cost/income improved significantly to 74.7 percent (-4.5 percentage points), successfully executing efficiency program
• Strong capital position with CET1 ratio 16.1 percent. Proposed dividend unchanged at CHF 3.00 per share

Vontobel delivered strong growth in profitability, with a PBT growth of 32 percent (YoY) to CHF 354 million. The firm is back on the growth path, with operating income up 9 percent to CHF 1,423 million, driven by higher revenues in both Institutional and Private Clients. Net profit was up by 24 percent to CHF 266 million. Return on equity increased to 12.3 percent. 

Increase in assets under management in both Private and Institutional Clients

Assets under management rose to CHF 229 billion firm-wide, up 11 percent from end 2023. Reflecting growth in both Institutional and Private Clients, this increase was driven by positive market performance and other (CHF 14.1 billion), net new money (CHF 2.6 billion) and foreign exchange effects (CHF 5.6 billion).

Positive net new money

Overall, net new money reached CHF 2.6 billion. Net new money in Private Clients reached CHF 4.6 billion, or a NNM growth of 4.7 percent. These inflows were driven by strong growth in core markets and reflect the firm’s expanding client base. In the Institutional Clients segment, outflows significantly slowed to CHF -2.9 billion, from CHF -7.6 billion in 2023. Positive net flows in multi asset and fixed income were offset by net outflows in emerging market equities and bonds.

Strategic progress

The company acquired a significant minority stake in Ancala, a London-based private infrastructure manager, marking a key milestone in Vontobel’s strategy to enter private markets and positioning the company to capitalize on the growing market demand for such products. Vontobel also acquired the client book of IHAG Privatbank, strengthening Vontobel’s presence in the DACH region in Private Clients. The transaction closed on January 3, 2025. Both transactions have a positive impact on Vontobel’s net profit and are accretive for shareholders from day one. To serve its clients better, Vontobel organized its business into two client segments: Private and Institutional Clients.  The company’s efficiency program is on target, already contributing to 2024 results.

Strong capital base and balance sheet

Vontobel has a strong capital position that exceeds all regulatory minima and its own through-the-cycle targets. At the end of 2024, the CET1 ratio was at 16.1 percent and the Tier 1 ratio at 20.9 percent. The Board of Directors will propose an unchanged dividend of CHF 3.00 per share at the Annual General Meeting on April 2, 2025.

Vontobel
A global investment house with Swiss roots, we offer investment and advisory solutions to private and institutional clients. Our head office is in Zurich and we are represented in 28 locations worldwide. The shares of Vontobel Holding AG are listed on the SIX Swiss Exchange and are majority-owned by the founding family. The family's close ties to the company guarantee entrepreneurial independence, and the resulting freedom is also an obligation to fulfill our responsibility to society. As of December 31, 2024, Vontobel held CHF 229 billion of assets under management. With our investment-led approach that focuses exclusively on the buy-side of financial markets, we think and act purely from the client’s perspective – as an investor for investors.

This includes keeping our finger on the pulse to provide our investors with the best solutions - something we have been committed to for over 100 years. We harness the power of technology to multiply our investment expertise across platforms and ecosystems and deliver high-quality, personalized client experiences. Because for us, successful investing starts with taking personal responsibility. This means that we want to empower our employees so that they can realize their potential, act independently and open up new perspectives. We constantly question what we have achieved, because we strive to exceed our customers' expectations.  

 

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