A look at the financial markets from the perspective of a Swiss wealth manager is an interesting read. The firm has been in the United States since the 1980s, with 22.9 billion Swiss francs under management in the U.S., including 20 billion francs from pension funds, and 16.5 billion francs in emerging markets. At the end of June, the company managed 108 billion swiss francs worldwide. Its profit climbed 20 percent in the first half of 2018, and its assets under management grew 10 percent. However, growth in its asset base is slowing down, and there are concerns that it will continue to be a problem for the company.
In December, Vontobel made several changes to its global organization. One was to streamline its structure. It phased out its previous three pillar structure in favour of a unified, holistic organisation that serves its clients globally. In the future, the company wants to become more client-centric and efficient, so it has introduced centres of excellence and client units. It has also expanded its product range in Hong Kong, where it now has a 1.5% share and 900 listed products.
The latest change from Vontobel’s top brass is a major shift in its global structure. The group has announced plans to build out its investment platform more efficiently. Instead of having three distinct pillars in the US, the company will now operate as one umbrella organization serving its clients globally through client units and centres of excellence. The goal is to have one brand and P&L across all of its markets.