The Zurich-headquartered Vontobel private banking group is combining its cross-border and onshore activities in its private banking business with German clients. Chief executive Zeno Staub has said that this move will ensure an “optimised market and client focus and will also create synergy potential.”

Operational responsibility for Private Banking Germany is being assigned to Roland Rötheli, who currently heads the Zurich-based business with German clients. As a result of this structural change, Frank Wieser, the existing local head of Private Banking Germany, will leave the group.

The post of managing director of Bank Vontobel Europe AG will be assumed by Bernhard Heye, who currently serves as chief operating officer of that company.

Staub also gave an update on the group's client assets, which totalled SFr147 billion ($156 billion) at 31 October 2012. Assets under management amounted to almost SFr96 billion. The increase of over SFr5 billion since mid-2012 reflected, he said, both the continued pleasing net inflow of new money and positive market developments.

The firm’s structured product platform, deritrade, is to be opened to third party providers.