Vontobel has appointed Pierin Vincenz to its board. Dr Vincenz is to be a representative of the Raiffeisen Group, a Swiss financial firm. Dr...

Vontobel has appointed Pierin Vincenz to its board. Dr Vincenz is to be a representative of the Raiffeisen Group, a Swiss financial firm. Dr Vincenz’s appointment to the board suggests a growing influence of Raiffeisen on Vontobel’s strategy. Earlier this month Raiffeisen said, after announcing record profits for 2004, it plans to further develop its links with Vontobel. The move follows the appointment of a member of the Dutch finance firm, Rabobank, to Bank Sarasin’s board. Rabobank has a minority holding in Bank Sarasin. Both moves suggest the growing influence of outside financial firms in the running of both banks, which are struggling to maintain adequate levels of growth in their offshore private banking businesses.