Vontobel Holding AG completed its acquisition of an eastern European asset management portfolio containing about CHF2 billion in AUM from Notenstein La Roche Privatbank AG following the transfer of clients and the full integration of roughly 10 employees based in Zurich into Vontobel's existing team.
The client portfolio mainly comprises high-net-worth individuals from eastern Europe.
Vontobel said the deal, which was completely equity-financed by the company, will have no impact on its capital position.
Raiffeisen Gruppe Switzerland is the ultimate parent of Notenstein La Roche.