Raiffeisen has decided to reorganise its investment clients segment and sell Notenstein La Roche Private Bank to Vontobel.
The move comes on the back of recent rapid growth in Raiffeisen’s investment business which has prompted the company to focus in future on the private clients with low to medium assets in order to make the best possible use of the 255 Raiffeisen banks’ advisory expertise.
Vontobel’s acquisition of Notenstein La Roche complements its growth in wealth management for high-net-worth clients and allows it to strengthen its home market with the additional Notenstein La Roche locations.
Notenstein La Roche currently operates in 13 locations throughout Switzerland and has client assets totalling some CHF16 billion in its wealth management and external asset managers businesses. Most of Notenstein La Roche’s clients are in Switzerland. The private bank also serves clients in several other international markets, the most important being Germany. At the end of 2017, Vontobel’s assets under management in combined wealth management (Wealth Management and EAM) in its strong Swiss home market and globally reached a new record level of CHF54.0 billion (up from CHF46.8 billion in 2016).
