Published on October 3, 2024 at 09:20. / Modified on October 3, 2024 at 10:04.
In the wealth management market, Vontobel has positioned itself as a specialized manager, active in private management and institutional management. The latter, a historic pillar of the Zurich group which is celebrating its 100th anniversary this year, suffered significant withdrawals, of around 7 billion francs last year. These outflows of money slowed down in the first half of 2024 to 100 million francs, but competition remains fierce in the investment market.asset management. Enough to push Vontobel, which managed 225.9 billion francs at the end of June, to reinvent itself? We asked the question to the president of the bank, whom we met on Wednesday in Lausanne.
For a decade, margins have been under pressure in institutional management for equities in particular. This is the effect of competition from passive management, which replicates the major stock market indices at floor prices. “This movement is accelerating, so much so that this market is shrinking and the only way for a manager to increase its assets would be to gain market share,” summarizes Andreas Utermann, chairman since 2022.
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