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Vontobel to buy Notenstein La Roche Private Bank for $705m

BBR Staff Writer Published 25 May 2018

Switzerland-based investment bank Vontobel has agreed to acquire Notenstein La Roche Private Bank from Raiffeisen Switzerland for about CHF700m ($705m).

Notenstein La Roche provides various services, including investment advisory and wealth management, financial and pension planning, financing and external asset management.

At present, Notenstein La Roche manages 13 locations across Switzerland. It manages client assets worth about CHF16bn ($16.12bn) through wealth management and external asset managers businesses.

The private bank, which mostly focuses on clients in Switzerland, also serves clients in several other international markets such as Germany.

At the end of 2017, Vontobel’s assets under management in combined wealth management reached to CHF54bn ($54.4bn) in 2017 from CHF46.8bn (47.1bn) in 2016.

Raiffeisen Switzerland executive board chairman and Notenstein La Roche chairman Dr Patrik Gisel said:n “On the contrary, we want to focus on our established client base, which also includes wealthy private clients, and expand it together with our Raiffeisen banks by offering an even broader and more effective range of products and services.”

The acquisition will help Vontobel to expand its wealth management services for high-net-worth clients.

It will also allow to strengthen its home market with the addition of Notenstein La Roche locations in Switzerland.

Subject to approval by the regulatory authorities, the deal is expected to complete by the ebd of third quarter this year.

Vontobel CEO Dr Zeno Staub said: “Our future clients will benefit from the opportunities and expertise offered by an internationally active Swiss wealth manager that puts clients at the centre of everything it does. Notenstein La Roche perfectly complements the strong organic growth we have achieved in wealth management over a number of years.”

With 20 offices across the globe, Vontobel provides wealth management, active asset management and investment solutions to its customers.

The investment bank has over CHF247bn ($248.9bn) of client assets, and employs more than 1700 people.


Image: Vontobel to acquire Notenstein La Roche Private Bank from Raiffeisen Switzerland. Photo: courtesy of adamr / FreeDigitalPhotos.net.