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Report: Vontobel eyeing acquisitions in private banking, asset management

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Report: Vontobel eyeing acquisitions in private banking, asset management

VontobelHolding AG will seek to make acquisitions in private banking but isunlikely to make a deal involving assets of more than CHF20 billion, CEO ZenoStaub told Reuters on July 26.

Staub added that the bank also has clear criteria forpurchases in asset management, but that it was difficult to specify a maximumdeal size in this industry, the report added.

Vontobel Holding the same day reported first-half group netprofit attributable to shareholders of CHF103.3 million, compared to CHF97.4million in the year-ago period. Total client assetsfell to CHF179.3 billion at June 30 from CHF187.2 billion at Dec. 31, 2015, andCHF180.8 billion at June 30, 2015.