The firm's cost-income ratio improved to 67.9 per cent from 77.9 per cent, below its through-the-cycle target of 72 per cent. Return on equity rose to 16.9 per cent from 10.2 per cent. The Common Equity Tier 1 ratio rose to 23.2 per cent, Zurich-listed Vontobel said in a statement today.

Assets under management stood at SFr252.2 billion as of 30 June 2026. Net new money rose to SFr2.5 billion from SFr2.0 billion a year earlier. The figure included outflows of SFr1.3 billion linked to the previously disclosed insourcing of the Futura fund mandate by Raiffeisen. It also included SFr2.5 billion of outflows from Quality Growth strategies, which the firm attributed to continued market demand for AI-driven mega-cap stocks. Excluding those factors, net new money would have been SFr6.3 billion.

The private clients business attracted net new money of SFr2.5 billion, a growth rate of 4.1 per cent, with inflows across all regions. 

Since the start of 2026, shares in Vontobel have risen almost 19.9 per cent. 

Structured Solutions had a strong first half, driven by demand for commodities and US equity-linked products, it said.

Vontobel opened an office in Los Angeles in June and will open a branch in Düsseldorf in October, serving high net worth clients and family offices.

In the institutional clients business, AuM rose to SFr112.5 billion. Net new money was flat after adjusting for the Raiffeisen-related outflows, while Quality Growth strategies attracted net inflows of SFr3.8 billion, an annualised growth rate of 7.4 per cent. Net new money in Vontobel's fixed income boutiques grew by 15 per cent.

Ahead of schedule 
Vontobel's SFr100 million efficiency programme is running ahead of plan and is expected to be completed by the end of the year, the firm said. The programme has helped cut the cost-income ratio by 10 percentage points compared with the first half of 2025.

The firm also completed the integration of its Quantitative Investments unit into its broader investments organisation, and established Vontobel Solutions, a new offering combining asset allocation, portfolio construction and risk management capabilities. New fixed income products are due to launch in the second half of the year, it said. 

Antoine Boublil will join Vontobel's executive committee as chief financial officer from August 2026. Gianpiero Galasso, head of private clients for Europe and the Middle East, Andrew Jackson, head of investments, and Christoph von Reiche, head of institutional clients, will also join the executive committee from the same date, enlarging the committee to reflect the firm's expanded leadership structure. All the appointments are subject to regulatory approval.