In a statement issued yesterday, ANZ announced it was formalising its relationship with the Swiss private bank, signing a ‘co-operation agreement’ to provide ANZ customers with “exposure to Vontobel’s differentiated investment and product expertise”.
Under the terms of the agreement, Vontobel will act as an adviser to ANZ’s global wealth management business on asset allocation strategy issues.
“Through our alliance with Vontobel we will provide our clients across the Asia Pacific region with world-class investment and asset allocation solutions, which includes expertise and capability in global asset allocation, equity investing and sophisticated client advisory services.”
The agreement will initially be in place for a period of five years and follows a memorandum of understanding that initiated the formal relationship in late 2012.
Vontobel chief executive Zeno Staub said the alliance with the Australian banking group “positions [Vontobel] as an active wealth and asset manager with a high level of investment and product expertise in a region that is experiencing very dynamic growth”.
