Vontobel’s H1 profit jumps 87% as efficiency gains strengthen results
Vontobel has posted a record first-half profit after an improvement in efficiency helped lift earnings sharply in the first six months of 2026.
Half-year profit rose 87% year-on-year to SFr216m. Revenues increased 24% to SFr852m.
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Operating expenses totalled SFr579m. The cost-income ratio improved to 67.9% from 77.9% a year earlier, moving below the group’s through-the-cycle target of 72%.
Assets under management stood at SFr252.2bn at 30 June 2026, up 5%.
Net new money reached SFr2.5bn, compared with SFr2bn in the prior-year period.
The CET1 ratio rose to 23.2%. Return on equity increased to 16.9% from 10.2% a year earlier.
The private clients business recorded net new money of SFr2.5bn, equivalent to a growth rate of 4.1%.
Vontobel said all regions posted inflows during the period.
The Americas remained an area of growth. In June, the firm opened a new office in Los Angeles.
In Germany, Vontobel is due to open a branch in Düsseldorf in October to serve high-net-worth clients and family offices across the region.
Structured Solutions also reported a strong first half, driven by demand for products linked to commodities and US equities.
In institutional clients, assets under management increased to SFr112.5bn.
Reported net new money was zero. Adjusted for outflows linked to Raiffeisen and Quality Growth net inflows, net new money came to SFr3.8bn, which the firm said represented annualised growth of 7.4%.
Demand for fixed income products remained firm during the half.
Vontobel said net new money growth in its fixed income boutiques amounted to 15%. It also said Broadridge placed the firm among the main fixed income fund promoters in the first half of 2026.
The group’s SFr100m efficiency programme continues to run ahead of plan and is expected to be completed by year-end.
According to Vontobel, the programme is supporting operating leverage as revenue growth outpaces costs.
On strategy, the firm completed the integration of Quantitative Investments into its wider Investments organisation during the first half.
It said this was intended to embed quantitative and artificial intelligence capabilities across its investment boutiques.
The company has also set up Vontobel Solutions, bringing together expertise across asset classes, portfolio construction, investment strategy and risk management.
It added that new fixed income products will be launched in the second half of the year.
Separately, Antoine Boublil will join Vontobel Holding’s executive committee as chief financial officer from August 2026, subject to regulatory approval.
Gianpiero Galasso, head of private clients Europe & Middle East, Andrew Jackson, head of investments, and Christoph von Reiche, head of institutional clients, will also become members of the executive committee from August 2026, subject to regulatory approval.
Christel Rendu de Lint and Georg Schubiger, co-CEOs of Vontobel, said: “Vontobel achieved a very strong first half in 2026. Higher revenues, driven by increased client activity, and a lower cost base supported our strong profit growth.
“At the same time, we continued to execute our strategic priorities with discipline, expanding our presence in key markets and enhancing our solutions and investment capabilities. The result reflects the quality of our franchise, and the trust clients place in us.”
