Vontobel delivers strong profitability, stabilizes institutional flows and advances strategic priorities

• Profit before tax (PBT) up 12 percent, reaching CHF 173.3 million
• Assets under management up 9 percent to CHF 225.9 billion
• Net new money of CHF 2.3 billion, driven by strong Private flows and a halt in Institutional outflows
• Closed acquisition of a significant minority stake in Ancala – a successful private infrastructure manager
• Cost income ratio down 1.7 percentage points. On track to achieve gross cost reductions of CHF 100 million by end-2026

 

Vontobel delivers strong results during the first six months of 2024, with strong PBT of CHF 173.3 million, up 12 percent year-on-year. Operating income was CHF 727.7 million, up 4 percent, mainly driven by higher client activity. The Private Clients segment contributed CHF 530.8 million, up 10 percent, and the Institutional Clients segment CHF 197.4 million.

 

Positive net new money

Net inflows totaled CHF 2.3 billion. Private Clients segment flows were strong at CHF 2.4 billion, while Institutional Clients segment outflows were stopped at CHF 0.1 billion. Assets under management increased 9 percent to CHF 225.9 billion from end-2023, with assets under management in the Private Clients segment surpassing CHF 100 billion for the first time.

 

Successful closing of significant minority stake in Ancala

This transaction marks a milestone in Vontobel’s private markets strategy and provides investment capabilities in the fast-growing private infrastructure segment. It further expands Vontobel’s offering of diversified, active investment strategies with attractive long-term growth potential.

 

Efficiency program on track

The cost/income ratio decreased to 76.1 percent from 77.8 percent in the prior year. Vontobel is on track with its efficiency program, slated to run until the end of 2026.

 

Solid capital base, strong balance sheet

Vontobel maintained its solid capital position that exceeds all regulatory minima as well as its own through-the-cycle targets. As of end of June 2024, the CET1 ratio was 18.3 percent (15.5 percent pro-forma for the Ancala acquisition), and the Tier 1 ratio 23.6 percent (20.6 percent pro-forma).

Vontobel
We are an international investment management firm with Swiss roots, providing investment, advisory and solution capabilities to private and institu-tional clients. Headquartered in Zurich, Switzerland, we are present across 28 locations world-wide. Vontobel Holding AG shares are listed on the SIX Swiss Exchange and majority owned by the founding family. The family’s close ties to the company guarantee entrepreneurial independence, and the resulting freedom creates an obligation to assume social responsibility. As of June 30, 2024, Vontobel held CHF 225.9 billion of assets under manage-ment. With our investment-led approach that focuses exclusively on the buy-side of financial markets, we think and act purely from the client’s per-spective – as an investor for investors.

This includes continually rethinking how to empower investors – something we have engaged in for over 100 years. Harnessing the power of technology allows us to deploy our investment expertise across multiple platforms and ecosystems, while aiming to offer an individualized and high-quality client experience. Our conviction that successful investing begins with the assumption of personal responsibility means we focus on empowering employees to unlock their potential, take ownership of their work, and bring opportunities to life. We continuously scrutinize our achievements as we strive to exceed the expectations of our clients.

 

Legal information
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