Strategy

Vontobel Continues To Look For Acquisition Targets

Knud Noelle, 18 May 2010

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Bank Vontobel, the Zurich-based private bank, continues to look for acquisition opportunities in Switzerland as well as neighbouring countries, the firm’s chief executive Herbert Scheidt said.

Scheidt told cash.ch, a Swiss business news website, that the recent fluctuations in the global markets have not impacted on the bank’s long-term acquisition plans. “Although we have nothing concrete in our pipeline, we remain observant and are looking out for what may become a concrete (acquisition) target,” he said.

He added that the firm is focusing on targets in Switzerland, but also in neighbouring countries, such as Germany.

With regards to private banking in Asia, Scheidt said that Vontobel is looking at different options for entering the market. The bank is already active in Asia as an asset manager.

Recently, the bank organically expanded in Switzerland, opening an office in Bern on 3 May. A further new office will be opened in Basel on 1 July.

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