The Zurich-based Vontobel Group has launched an initiative to strengthen its ties with external asset managers. This includes the establishment of an independent wealth management company - VT Wealth Management - to serve Swiss and international private clients, as well as family offices, and the provision of a comprehensive platform to selected independent wealth management companies. The new company started operations in May 2008 and focuses on asset management and investment advisory, as well as wealth consolidation. Vontobel holds a 51 per cent stake in this business and 49 per cent is held by the management. "VT Wealth Management will work together with proven external partners to offer its clients holistic solutions for long-term asset growth, with relationship managers using their entrepreneurial freedom when selecting products and services to benefit clients," said Thomas Fedier, who has been appointed chief executive of VT Wealth Management with effect from 1 July 2008. Mr Fedier has many years of experience in the field of international wealth management, most recently at the Julius Baer Group, where he held various management positions. The Vontobel Group is supplying the new company with modern mid-office and back-office services based on a comprehensive EAM platform. The bank intends to offer this platform to other EAM partners. Vontobel is an internationally-oriented Swiss private bank that is run as an integrated institution offering private banking, investment banking and asset management services to sophisticated private and institutional clients. Vontobel is a public company with a strong core of shareholders. The majority of its equity and voting rights is in the hands of the family and the Vontobel Foundation.