Vontobel Signs Deal to Buy UBS’s Swiss Financial Advisers Business that Serves U.S. Clients Wanting Geo Diversification
Posted on 12/25/2021
Revealed on December 16, 2021, Vontobel (SWX: VONN) signed an agreement to purchase UBS Swiss Financial Advisers AG (SFA), a subsidiary of UBS Group AG, based in Zurich. With this acquisition, Vontobel will further strengthen its platform providing clients with a global investment approach and geographic diversification. Vontobel, through Vontobel Swiss Wealth Advisors (VSWA), is one of the leading Swiss-domiciled providers of wealth management investment solutions for U.S. and qualified Canadian investors.
Together with SFA’s CHF 7.2 billion in assets under management as of September 30, 2021, Vontobel, through its SEC licensed entities, is expected to become the largest Swiss-domiciled wealth manager for U.S. clients seeking an account in Switzerland for diversification purposes. The combined pro forma assets under management will more than double to over CHF 10 billion.
Following the transaction, UBS will continue to refer its clients to SFA, an SEC-registered investment advisor and FINMA-licensed securities firm, which offers U.S. clients tailored investment solutions in a Swiss-based environment.
Most recently, Vontobel acquired Lombard Odier’s U.S.-based client portfolio in 2019 and plans to open a new office in Miami.
The transaction, which is subject to regulatory approvals, will be fully funded with cash from Vontobel’s balance sheet, covered by its robust CET1 and Tier 1 capital ratios.
Advisors
Bär & Karrer acted as external Swiss legal and tax advisor to UBS in this transaction.
Keywords: Vontobel Holding AG (Vontobel).
