GENEVA, SWITZERLAND – Bank Vontobel said Tuesday 19 February that it is moving its Dubai onshore business to Geneva and will make its branch office in the Swiss city a hub for its Middle East business. The Zurich-based bank, long noted for its work as an investment bank, has had offices in Geneva since 1993, where it has private and institutional clients.
To mark the change to its Geneva office playing a larger role, the bank has appointed Lionel Pilloud the new head of the Geneva branch; he has been managing the advisory business for the financial products division of the bank in French-speaking Switzerland. He replaces Jean-Pierre de Glutz, who retires in July.
Net inflow of managed assets: record year in 2012
Vontobel at year-end 2012 was managing CHF150 billion in managed assests, a 14 percent increase over 2011 with a record net inflow of CHF8.6 billion in 2012.
The bank has 1,400 employees worldwide and registered shares of Vontobel Holding AG listed on the SIX Swiss Exchange. The Vontobel families and the Vontobel Foundation are majority shareholders and have a majority vote in the company.