Zurich-based bank and wealth manager Vontobel has announced plans to run its Vontobel Asset Management arm as an independent legal entity, which will be operated under the name Vontobel Asset Management AG.
The company aims to form the basis for further growth in the global asset management market with this strategic realignment, which underscores the international growth strategy pursued by the arm.
According to the company, the creation of an independent legal entity is said to be in line with Vontobel Asset Management’s strategy of operating internationally.
The independence of asset managers is a key selection criterion applied by international consultants and clients and has been given high importance in most asset management markets.
Vontobel spokeswoman Rebeca Garcia said by telephone to Bloomberg that analysts and investment consultants will be able to make clearer assessments of the asset-management business with the new legal structure in place.
The transformation of Vontobel into an independent legal entity is subject to the approval of the Swiss Financial Market Supervisory Authority FINMA and the general meeting of shareholders of Bank Vontobel AG on 29 April 2015.
Image: The independence of asset managers is a key selection criterion applied by international consultants. Photo: courtesy of Gualberto107/ FreeDigitalPhotos.net