Vontobel Strengthens Foothold in DACH Region with Strategic Acquisition
Swiss private bank Vontobel has successfully finalized its acquisition of IHAG Privatbank’s client book, a move that significantly bolsters its presence in the DACH region (Germany, Austria, Switzerland). This strategic deal enhances Vontobel’s private client segment, providing IHAG clients with access to the bank’s global investment expertise, tailored financial advice, and cutting-edge digital tools.
A Commitment to Growth and Sustainability
The acquisition, financed through Vontobel’s existing capital, has had a positive impact on the company’s group net profit from the outset. While specific terms of the deal remain confidential, this move underscores Vontobel’s commitment to growth and its position as a primary private bank in the region.
The Road to Sustainability: A Complex Journey
At the 9th Annual Private Banking Conference & Awards Switzerland 2024 event in Zurich, Dr. Reto Cueni, Vontobel’s chief economist, highlighted the challenges of achieving sustainability. He emphasized that many people misunderstand the concept of sustainability, which goes beyond just physical resources. According to Cueni, “When we talk about ESG and sustainability, we talk about the green transition and where we want to end up in a sustainable world.”
ESG Assessments: A Key Component of Sustainability
Vontobel utilizes ESG assessments during the valuation process, incorporating 15 equal-weighted factors to aid decision-making. This approach acknowledges the complexity of sustainability, which involves not only environmental considerations but also social and governance factors.
The Paradox of Sustainability: Balancing Growth and Resource Consumption
Cueni pointed out that achieving sustainability requires significant resources, including minerals and metals, which can lead to increased energy demand and consumption. He noted that population growth and rising living standards contribute to higher energy demands, making it essential to balance growth with responsible resource management.
A Nuanced Approach to Sustainability
While physical resources are essential for the green transition, Cueni warned that there is more to sustainability than just resource consumption. He emphasized the need for a nuanced approach that considers the interplay between economic growth, social responsibility, and environmental stewardship.
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