In a move designed to achieve significant growth in its institutional asset management business, family owned Swiss private bank Vontobel has decided to reorganise its management structure and to make a number of senior appointments. The Group Investment Center, which was previously a separate support unit, will be combined with the Asset Management & Investment Funds business unit. Dr Zeno Staub, current head of Investment Banking, will take over the management of the new Asset Management business unit with effect from 1 January 2008. Roger Studer has been appointed the new head of Investment Banking. The Vontobel Group's business model is based on its combined core competencies in wealth and asset management, and investment banking. Therefore, it needs an asset management business that works closely with its private banking and investment banking businesses, according to a statement. "In order to successfully implement our growth strategy, we will strengthen our focus on active asset management and intensify the distribution of products via third parties. These measures are aimed at increasing the growth of new assets and enhancing profitability in Asset Management. In view of his excellent track record, management experience and outstanding capabilities in many areas of banking, we are convinced that Zeno Staub will successfully master this challenge in Asset Management," stated Herbert Scheidt, chief executive of the Vontobel Group. Dr Staub has held various management positions at Vontobel since 2001. He was chief financial officer until September 2006 and has since been responsible for Investment Banking. Mr Studer will take over the management of the Investment Banking business unit. He has been with the Vontobel Group for some 20 years and was instrumental in the development of its successful derivatives and structured products business. Effective 1 January 2008, the group executive management of the Vontobel Group will comprise: Herbert Scheidt (CEO), Dr Axel May (CFO), Walter Thoma (Head of Private Banking), Roger Studer (Head of Investment Banking), Dr Zeno Staub (Head of Asset Management) and Peter Gubler (Head of Operations). Christoph Ledergerber (the current Head of Asset Management & Investment Funds) will assume responsibility for Cooperation Management with Vontobel's strategic partners Raiffeisen and the Helvetia Group. Dr Giuseppe Benelli, the current head of the Group Investment Center and Chief Investment Officer, has decided to use this strategic and structural change as an opportunity to pursue a new professional challenge outside Vontobel. Integration of Vontobel Asset Management into Bank Vontobel in the second quarter of 2008, Vontobel Asset Management AG Zurich, which is currently a subsidiary of Vontobel Holding AG, will be integrated into and merged with Bank Vontobel AG Zurich with retroactive effect from the start of 2008. Vontobel will thus fulfil the new regulatory requirements that apply to all managers of Swiss collective investments that are subject to the supervision of the Swiss Federal Banking Commission. At the same time, this move will create a more efficient Group structure. In the second quarter of 2008, Vontobel Asset Management Zurich, which is currently a subsidiary of Vontobel Holding, will be integrated into and merged with Bank Vontobel Zurich with retroactive effect from the start of 2008. Vontobel will thus fulfil the new regulatory requirements that apply to all managers of Swiss collective investments that are subject to the supervision of the Swiss Federal Banking Commission.