Vontobel is expanding its presence in Germany, which serves as a gateway to the entire European market. The Swiss bank is well positioned in Germany with its Wealth and Asset Management and Investment Banking businesses and it wants to continue achieving growth with its clients in this key focus market in the future.
These objectives were underscored by Martin Sieg Castagnola, chairman of the Supervisory Board of Bank Vontobel Europe AG, Munich, and CFO of Vontobel Holding AG, Zurich.
Vontobel has been offering its product expertise and services to German clients from its headquarters in Zurich since the start of the 1950s. Today, clients can choose between Vontobel's advisory and booking centers in Germany and Switzerland.
At the same time, Bank Vontobel Europe AG, which was founded in 2009 and has around 90 employees, serves as a platform for business in the European Union (EU) and the European Economic Area (EEA). The bank is represented in five EU locations: The head office and Wealth as well as Asset Management hub in Munich and the branches in Hamburg (Wealth Management), Cologne (Investment Banking / Brokerage), Frankfurt am Main (Investment Banking / Financial Products, Asset Management) and London (Investment Banking / Brokerage).
In the financial year 2018, Bank Vontobel Europe AG continued to follow its current path and further strengthened and expanded its position as a hub for the EU and EEA. At end-2018, the bank reported a profit of more than €3.3m, corresponding to an increase of more than 60% year on year.
The Wealth Management business was once again one of the drivers of this growth, generating renewed increases in income and in inflows of client assets in the financial year 2018. To support future growth, Vontobel has further strengthened its advisory teams in Munich and Hamburg. Today, around 20 wealth management experts in Munich and Hamburg - together with the team in Zurich - serve clients domiciled in Germany.
Asset Management increased its income by around 48% in 2018 compared to the previous year. As a result of Vontobel's active multi-boutique approach, this unit can offer German clients a broad range of products and services - from actively managed mandates to quantitative expertise.
With a market share of 9.3% (as at end-2018) measured in terms of exchange-traded volumes, Vontobel ranks as one of the six largest providers of listed structured products in Germany. In addition to its longstanding offering in Germany, Austria and Luxembourg, the Frankfurt-based Financial Products team of Bank Vontobel Europe AG has succeeded in gradually expanding its sales activities since 2015 - first in Sweden and Finland, followed by Italy, France and the Netherlands. It also made its successful market debut in Denmark in 2019.
The Brokerage business - which was established in Germany in 1999 and has been successful from the start, and which now has teams in Cologne and London - has maintained a stable market share. Its clients include the largest institutional investors in Germany, Austria, the UK and the Nordic markets. Vontobel was named the leading broker for Swiss Equities by Extel for the ninth year in succession and in 2018 - the first year under the new MiFID 2 regulation - it succeeded in further growing its market share.