Vontobel Profit Soars on Private Client Inflows

Vontobel, a Swiss wealth manager, reported a significant increase in first-half net profit to 216 million Swiss francs. The company's cost-income ratio decreased to 67.9%, contributing to this rise.

The profit jump was largely driven by private client inflows, with net new money coming in at 2.5 billion Swiss francs. However, institutional flows were flat, posting zero net flows after outflows linked to Raiffeisen and Quality Growth funds.

Vontobel's co-CEOs Christel Rendu de Lint and Georg Schubiger attributed the growth to higher client activity and a lower cost base. They noted that markets' support can lift profits quickly when costs are kept in check.