Vontobel has been making headlines across the Swiss private banking sector with a series of noteworthy developments. From robust net new money inflows to an unexpected victory in a new brand identity index, the Zurich-based bank appears determined to reinforce its position in a crowded and competitive market. Meanwhile, a major leadership transition is underway, signaling both continuity and fresh perspectives. Below is an in-depth look at Vontobel’s current status, its promising outlook, and why these recent milestones could reshape the Swiss private banking landscape.
Vontobel’s Financial Surge
Solid Growth and Improved Profitability
In 2024, Vontobel recorded a substantial upswing in its financial metrics:
- Pre-tax profit: CHF 354 million (+32% year-over-year)
- Net profit: CHF 266 million (+24% compared to the previous year)
- Operating income: CHF 1.42 billion (+9%), driven by gains across both private and institutional segments
These figures underscore Vontobel’s ability to capture new opportunities while managing its existing client relationships effectively. Despite this performance, the bank chose to maintain a steady dividend of CHF 3.00 per share—highlighting a balanced approach to rewarding shareholders while conserving capital for future growth.
Encouraging Net New Money Inflows
Vontobel also reported a total of CHF 2.6 billion in net new money for 2024. The breakdown reveals where the bank has found the most traction:
- Private Clients: +CHF 4.6 billion
- Institutional Clients: –CHF 2.9 billion (a marked improvement over the prior year’s –CHF 7.6 billion)
The positive momentum in private clients showcases Vontobel’s growing appeal to high-net-worth individuals. At the same time, the slowdown in institutional outflows indicates potential stabilization in that market segment.
Brand Identity Spotlight
One of the most surprising developments is Vontobel’s top ranking in the inaugural Swiss Private Banking Identity Index (SPBIx). Developed by brand experts Markus Kramer and Jean-François Hirschel, the SPBIx evaluates 59 Swiss private banks across nearly 30 brand-related parameters, focusing on:
- Identity: Clarity of purpose, values, and unique selling proposition.
- Activation: Effectiveness in conveying these attributes to clients and the broader market.
Vontobel’s first-place finish has raised a few eyebrows, mainly because of its mixed history in wealth management and the challenges associated with integrating acquired entities. However, the SPBIx results suggest that strong brand projection can significantly enhance a bank’s market visibility and even correlate with higher assets under management growth.
Below is a concise look at the Top 10 performers from the SPBIx:
| Rank | Bank | Notable Strength |
|---|---|---|
| 1 | Vontobel | Clear purpose and consistent market engagement |
| 2 | Pictet | Blend of tradition with a global footprint |
| 3 | Banque Heritage | Niche approach backed by solid brand articulation |
| 4 | PKB Private Bank | Innovative client relationship strategies |
| 5 | UBS | Comprehensive financial solutions, global presence |
| 6 | Piguet Galland | Personalized, client-centric approach |
| 7 | Zürcher Kantonalbank | Strong community trust and local expertise |
| 8 | Graubündner Kantonalbank | Consistent performance with regional focus |
| 9 | Lienhardt & Partner | High-touch private banking model |
| 10 | EFG | Targeted offerings in specific market segments |
While critics argue that brand power alone cannot override operational realities—such as the bank’s cost-income ratio or challenges with high-performing relationship managers—the SPBIx ranking highlights the importance of purposeful branding as a strategic asset.
Changing of the Guard: Zeno Staub’s Next Role
No conversation about Vontobel would be complete without mentioning the leadership transition involving Zeno Staub. After serving as CEO for over two decades, Staub stepped down in April 2024. He is now set to join Vontobel’s Board of Directors at the upcoming Annual General Meeting on April 2, 2025.
Academic Ambitions
Beyond his board candidacy, Staub is preparing for another significant role: President of the University Council at the University of St. Gallen (HSG). The move capitalizes on his deep roots in the canton of St. Gallen, where he both studied and earned his doctorate at HSG. According to the cantonal government, Staub’s blend of executive experience, administrative know-how, and regional affinity make him a fitting choice to guide the university’s strategic mission.
This dual shift suggests a broader vision for Staub—one that involves fostering practice-oriented teaching and research while maintaining a voice in Vontobel’s governance. For the bank, it signals a balance between the continuity of Staub’s institutional knowledge and the infusion of new perspectives at the executive level.
What It All Means for Swiss Private Banking
Vontobel’s recent developments underscore the evolving nature of Swiss private banking. Even as cost pressures and competition intensify, the bank has shown an ability to adapt and grow. Its top spot in the SPBIx underlines the rising significance of brand identity in a rapidly consolidating sector. Meanwhile, staunching outflows in institutional clients points to improving internal dynamics that could bolster investor confidence.
If Vontobel maintains its current trajectory—combining a clearly articulated purpose with tangible operational gains—it could further solidify its position as a leading Swiss private bank. This momentum also bodes well for the broader industry, signaling that meaningful brand engagement and strong governance can drive positive outcomes in a challenging landscape.
Considering Your Own Private Banking Needs?
These recent shifts at Vontobel highlight the growing importance of selecting a private banking partner that aligns with your financial goals and personal values. If you’ve been contemplating a move toward Swiss private banking, Easy Global Banking is ready to offer guidance. Our team takes pride in helping clients navigate this sophisticated market, ensuring you receive personalized support at every step of the way.
Ready to open a Swiss private bank account? Reach out to Easy Global Banking today, and let us assist you in finding the solution that best fits your needs and aspirations.
