Vontobel Private Banking

Investment management is split between the centralized Asset Management division — which runs the Vontobel Fund range, multi-asset mandates and the boutiques TwentyFour and Vescore — and the Private Banking unit, where discretionary and advisory portfolio managers construct bespoke allocations for UHNW families. The co-CEO structure installed in 2024 places Georg Schubiger over the Private Banking line and Christel Rendu de Lint over Asset Management, ensuring investment leadership sits at the top of both operating divisions.

The firm partners with established external managers such as Ares Management for private credit while maintaining a direct origination capability in Swiss, German and UK real estate and mid-market infrastructure. Its Zurich-based investment teams tap a network of regional developers, project sponsors and credit originators that the firm has cultivated over decades as a structured-products house. This dual-channel model — external institutional partnerships plus proprietary direct deal flow — gives UHNW clients exposure to transactions that are rarely syndicated to non-Swiss allocators.

Vontobel is a publicly listed Swiss investment house organized as an asset manager and private bank. It does not manage a single-family fortune. The original Vontobel family's stake was transitioned decades ago to an employee-held voting-share foundation, which controls more than 50% of votes, insulating the firm from external takeovers. The Private Banking unit operates with the discretion and bespoke service of a family office but deploys institutional-grade analytical resources across equities, fixed income, structured products and private markets.

Vontobel Private Banking provides both. Clients access the firm's own in-house mutual fund range (Vontobel Fund, TwentyFour, Vescore), third-party fund-of-fund structures, and increasingly direct co-investments in private credit, real estate and secondaries. The split depends on client mandate type: discretionary portfolios use in-house funds and direct securities, while advisory and execution-only relationships can tap the entire open-architecture fund universe alongside structured-product and direct-deal access.

TwentyFour Asset Management is a wholly owned London-based fixed-income boutique within Vontobel's Asset Management division. It runs sterling and European credit portfolios — including the well-known TwentyFour Monument Bond Fund — and its strategies are distributed to private-wealth clients via Vontobel Private Banking as in-house mandates. The relationship gives Vontobel's UHNW clients direct access to a specialist credit team with its own independent investment committee and culture, unusual for a private-banking platform.