Zurich-based Vontobel said client assets stood at SFr150 billion ($164 billion) at the end of 2012, a 14 per cent rise, while it logged net inflows of new money of SFr8.6 billion, year-on-year gain from 2011 when inflows were SFr8.2 billion.

Zurich-based Vontobel said client assets stood at SFr150 billion ($164 billion) at the end of 2012, a 14 per cent rise, while it logged net inflows of new money of SFr8.6 billion, a year-on-year gain from 2011 when inflows were SFr8.2 billion.

Net profit rose by 15 per cent year-on-year to SFr130.6 million, a result that the bank said was achieved despite “very low trading volumes on the capital markets and significant caution on the part of private clients”.

The wealth and asset management businesses accounted for 67 per cent of the group’s pre-tax profit, it said in a statement today.

At the end of last year, Vontobel had a BIS tier 1 capital ratio of 27.2 per cent.

The board of directors is proposing to increase its dividend to SFr1.20.

The financial firm said it achieved “ambitious market share targets in the structured products business. It maintained its strong competitive position in Switzerland, and successfully expanded in Germany, where it now ranks eighth as targeted”.

"The above-average growth in new money of 10.5 per cent shows the trust and confidence private and institutional clients alike have in Vontobel’s investment expertise. Our tailored investment solutions are convincing because they demonstrably add value for our clients," said Vontobel chief executive Zeno Staub.

The higher asset base boosted Vontobel’s operating income last year, which was up by 1 per cent to SFr775.0 million. Net fee and commission income accounted for 64 per cent – and rose by 9 per cent to SFr495.1 million.

In November last year, Vontobel signed a partnership agreement with Australia’s ANZ to bolster its Asian presence. It signed a memorandum of understanding with Australia and New Zealand Banking Group that to some extent mirrors a similar arrangement made over a year ago between Julius Baer and Australia’s Macquarie. The MoU means Vontobel will expand its activities in Asia-Pacific – primarily in the growth markets of Australia, New Zealand, Hong Kong and Singapore, the banks said today. Vontobel will provide expertise in global investments, structured products and tools, client advisory and client processes to the private banking business of ANZ.

Directorate change

At the 23 April general meeting, two new members proposed for the board will be voted on, following a decision by Dr Ann-Kristin Achleitneer and Dr Philippe Cottier to not stand for re-election. The proposed replacements are Dominic Brenninkmeyer and Nicolas Oltramare.