Vontobel recorded an improvement in operating income in the first nine months of 2023 compared to the prior-year period. In total, the investment manager generated a stable result for the first nine months of the year.
Georg Schubiger, Head Wealth Management, and Christel Rendu de Lint, PhD, Head Investments, are to lead Vontobel as Co‑CEOs, effective January 1, 2024. The Board of Directors of Vontobel reached this decision on October 2, 2023, after completing a rigorous process to appoint Zeno Staub’s successor.
Vontobel has successfully placed new Additional Tier 1 bonds (AT1 bonds) with a total nominal value of USD 400 million in two tranches of USD 200 million and a denomination of USD 200,000 each with funds managed by Apollo Global Management.
From September 2023, Vontobel will offer investment solutions in the area of private markets to selected wealth management clients, enabling them to further diversify their investment portfolios. In the future, clients will be able to make long-term investments in this asset class through a multi strategy fund.
Markus Pfister, Head Structured Solutions & Treasury (SS&T) and a Member of the Executive Committee of Bank Vontobel AG since 2020, will succeed Felix Lenhard as COO, Head Technology & Services (COO) of Vontobel, effective January 1, 2024. In his new function, Markus Pfister will additionally become a Member of the Executive Committee of Vontobel Holding AG.
After 22 years at Vontobel, including 20 years as a member of the Executive Committee and 12 years as CEO, Zeno Staub has informed the Board of Directors of his wish to step down from his role at the next General Meeting of Shareholders on April 9, 2024, in order to become more actively involved in Swiss civil society.
Vontobel generated a stable result for the first quarter of 2023 in a market environment that continues to be impacted by high levels of uncertainty. The business with wealth management clients delivered another very positive performance, like in the previous year.
At the 2023 General Meeting of Shareholders of Vontobel Holding AG held in Zurich on April 4, 2023, shareholders approved all the motions proposed by the Board of Directors by a convincing majority. They voted in favor of accepting the annual and consolidated financial statements for 2022.
Since April 3, 2023, all clients of the two Switzerland-based Vontobel US entities have been brought together under one roof within Vontobel SFA. Vontobel has thus become the largest Swiss-domiciled wealth manager for North American clients.