Vontobel Buys Majority Stake in TwentyFour Asset Management

Swiss private bank Vontobel agreed to acquire a majority 60% stake in London-based TwentyFour Asset Management. Partners and key employees of TwentyFour Asset Management will retain 40% control. Zurich-based Vontobel could purchase the other 40% over a period of time. Vontobel, through its unit Vontobel Asset Management, is keen on expanding its European presence. The deal also expands the company’s fixed income offerings and solutions. Combined, Vontobel will have around 17 billion CHF in assets under management. The deal is expected to close in the second quarter of 2015.

“The acquisition will set a strong foundation for Vontobel Asset Management’s further growth in the U.K., which is one of the most important asset management markets in the world and accelerates the international growth of our business,” said Axel Schwarzer, the head of Vontobel’s asset management arm, in a press release.

Vontobel is also looking at acquiring Dusseldorf-based Meriten Investment Management from BNY Mellon. As of year-end 2014, Meriten Investment Management has €24.5 billion in assets under management.

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