- Vontobel will become the largest Swiss-domiciled wealth manager for US clients seeking an account in Switzerland for diversification purposes
- The transaction is part of Vontobel’s long-term growth strategy in the US
- UBS USA will continue to refer clients with a US connection seeking regionally diversified strategies in a Swiss based environment exclusively to Vontobel SFAVontobel (SWX: VONN), the global investment firm, today announced the closing of the acquisition of UBS Swiss Financial Advisers AG (SFA), effective August 1, 2022. With this transaction, which was announced on December 16, 2021, Vontobel is further strengthening its platform providing clients with a global investment approach and geographic diversification. Prior to the acquisition, Vontobel – through Vontobel Swiss Wealth Advisors (VSWA) – already ranked as one of the leading Swiss-domiciled providers of wealth management investment solutions for US and qualified Canadian investors.Together with the renamed Vontobel SFA’s assets under management (around CHF 6.0 billion as of June 30, 2022), Vontobel – through its SEC-licensed entities – will become the largest Swiss-domiciled wealth manager for US clients seeking an account in Switzerland for diversification purposes. The combined pro forma assets under management will more than double to around CHF 10 billion.Vontobel plans to carry out the operational and legal combination of Vontobel SFA and VSWA, its existing business serving North American wealth management clients, in the first half of 2023. The relevant preparations have already begun.
The investment firm Vontobel and UBS have also agreed that in the future, the around 6,000 UBS advisors across all US states will continue to refer clients with a US connection seeking tailored investment solutions in a Swiss-based environment exclusively to their partner Vontobel SFA.
“In view of global developments, Vontobel is strengthening its focus on large and established markets that have a significant number of discerning clients who are seeking a globally active investment advisor. The US continues to rank as the world’s largest investment market with many wealthy clients who want to diversify their portfolios geographically and are therefore looking for high-quality advice. With Vontobel SFA, we will become the leading Swiss partner for these American clients. The past few months have confirmed that SFA and VSWA are an ideal fit. Both teams have the same understanding of quality, excellent client service, client needs and the market. At the same time, they will complement each other. The team, which has been significantly strengthened, and the agreement with UBS, will create opportunities for the future growth of the business with American clients,” stated Georg Schubiger, Chair VSWA and Vontobel SFA and Head Wealth Management at Vontobel.
The transaction was fully funded with cash from Vontobel’s balance sheet. After the transaction, Vontobel will continue to have robust CET1 and Tier 1 capital ratios.
Vontobel has been present in the US since 1984 for institutional clients with asset management and for American private clients through VSWA since 2005.
Vontobel
At Vontobel, we actively shape the future. We create and pursue opportunities with determination. We master what we do – and we only do what we master. This is how we get our clients ahead. As a globally active investment manager with Swiss roots, we specialize in wealth management, active asset management and investment solutions. We harness the power of technology to deliver a high-quality, individual client experience and to deploy our investment expertise across multiple platforms and ecosystems. We empower our employees to take ownership of their work and bring opportunities to life. We do so based on the conviction that successful investing begins with the assumption of personal responsibility. We continuously scrutinize our achievements as we strive to exceed the expectations of our clients. The registered shares of the Vontobel Holding AG are listed on the SIX Swiss Exchange. The Vontobel families’ close ties to the company guarantee our entrepreneurial independence. We consider the resulting freedom as an obligation to also assume our social responsibility. As of June 30, 2022, Vontobel held CHF 256.0 billion of total client assets. Around the world and in our home market, we serve our clients from 26 locations.Legal information
This press release is provided purely for informational purposes and is expressly not directed at persons whose nationality or place of residence prohibits access to such information on account of existing legislation. The information and views contained in it do not constitute a request, offer, or recommendation to use a service, to buy or sell investment instruments, or to conduct other transactions. Forward-looking statements, by their nature, involve general and specific risks and uncertainties. It should be noted that there is a risk that forecasts, predictions, projections, and results described or implied in forward-looking statements may not prove to be correct.
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