Australia & New Zealand Banking Group (ANZ) has inked a memorandum of understanding (MoU) with Swiss bank Vontobel Group, to offer enhanced private banking services for its clients across the Asia Pacific region.
The collaboration will also pave way for the Swiss lender to boost its distribution capabilities in Australia, New Zealand and Asia Pacific, utilizing ANZ’s network in 30 countries.
ANZ global wealth and private banking CEO Joyce Phillips said, "The aim is to provide clients with access to world-class investment capabilities to support our transition to an investment-led client offering."
Expected to formalize during the first six months of 2013, the alliance will cooperate on areas that include global investments, discretionary portfolio management, structured products and tools as well as client advisory & process business in the region.
ANZ Global Wealth and Private Banking has a distribution network in Australia, New Zealand, Hong Kong, Singapore, Taiwan and Indonesia.
Managing nearly CHF140bn (A$141bn) of client assets, Vontobel specializes in wealth management for private clients and asset management for institutional investors, as well as in investment banking.