B + 16 B
B + 16 B
B + 16 B
The Vontobel Group offers the unique combination of an independent
Swiss private bank with the innovative strength of an active inter-
national asset manager. Our integrated business model with the three busi-
ness units Private Banking, Investment Banking and Asset Management
ensures close cooperation and allows us to successfully pool our exper-
tise and resources for the benefit of our clients and business partners.
Each day, around 1,400 Vontobel employees around the world create
sustained added value for our clients: they diligently manage and moni-
tor the client assets entrusted to us, while carefully tracking develop-
ments in the financial markets and observing global events. Whether
they are in the heart of Zurich, in New York, Hong Kong or Dubai em-
ployees in 19 international locations identify trends and devise appropri-
ate innovative investment strategies and products. We focus on areas of
business of which we have an expert knowledge and we earn the trust
of our clients by delivering on our promises.
The stable shareholder structure of the Vontobel Group and the long-
term focus and entrepreneurial philosophy of our major shareholders are
the key to our solidity and reliability. The Vontobel families hold a majority
of around 52% of votes and capital. In addition, Vontobels strategic
partner, Raiffeisen, holds a stake of 12.5% in the company.
The rating agencies Standard & Poors and Moodys have analyzed and
rated Bank Vontobel AG and Vontobel Holding AG. The ratings (as of
31.12. 2010) confirm the recognized financial strength and solidity of
the Vontobel Group:
The Vontobel Group
Standard & Poors: Vontobel Holding AG A
Bank Vontobel AG A+
Moodys: Vontobel Holding AG A2
Bank Vontobel AG A1
The Vontobel Portrait 2011 is intended solely for information purposes. The information and views contained in it do
not constitute a request, offer or recommendation to use a service, to buy or sell investment instruments or to conduct
other transactions. In addition, there is a risk that forecasts, predictions, projections and results described or implied
in future-oriented statements may not prove correct. Information and statements concerning audited financial results
and corporate governance should only be taken from the Vontobel Holding AG Annual Report 2010. It is available at
www.vontobel.com or can be obtained by post upon request.
1Vontobel Portrait 2011
Swiss made is a promise of quality and performance. It is used in reference to Switzerlands
financial and industrial centres, which are among the most attractive in the world and have,
for years, been drawing in high levels of investment and welcoming global companies and
skilled professionals. The Swiss financial and banking sectors have overcome the impacts of
the financial crisis far more effectively than other international centres and continue to enjoy
a very high level of demand for their products and services globally. Against this back-
drop, we are convinced that Switzerland will successfully master the challenges resulting
from the growing international pressure on leading financial sectors and that it will emerge
from this period of change even stronger than before based on its positioning as a centre of
excellence for high-quality financial services.
Swiss made is a pledge that is founded on core Swiss values such as solidity, trust-
worthiness, quality and precision. These values form the cornerstones of the Swiss brand.
Combined with a willingness to embrace change, they will guarantee the continuation of
Switz erlands success story. These are the beliefs and values that have also long been the
hallmarks of Vontobel.
Our relationship with our clients is built on a combination of trust and performance. This
is one of the reasons why clients select us as their financial partner and why many of these
relationships continue from one generation to the next. We want to impress our clients with
our services by focusing on value enhancement, risk awareness and innovation. One ex-
ample is Vontobel Global Change Investing. Based on this approach, we enable sophisti-
cated investors to benefit from sustainable investment opportunities resulting from the pro-
cess of global change.
If we consider our 2010 financial results and view them in the context of the continued
challenging operating environment, it is clear that Vontobel has delivered a solid and
successful performance. Our substantial net inflow of new money in the amount of
CHF 5.5 billion demonstrates the high level of trust that our clients and partners continue to
place in Vontobel. The basis for our banks future growth thus remains intact.
Vontobel has a strong and successful brand like Switzerland itself. This was confirmed
by the most recent brand rankings published by the business magazine Bilanz, in which
Vontobel achieved fifth place among the Swiss banks. Its good name, strong traditions and
experience, and its commitment to upholding Swiss values are proving successful, was the
explanation for this excellent ranking.
The Portrait 2011 examines the theme Swiss made from various perspectives and pres-
ents the views of both external and internal specialists on this topic. They all share the belief
that the Swiss brand provides a decisive advantage in the international competitive arena
especially for the Swiss financial centre and represents a special pledge of quality.
Dr. Urs Widmer
Chairman of the Board of Directors
Herbert J. Scheidt
Chief Executive Officer
Prof. Dr. Torsten Tomczak __ Professor of Business Management and Marketing
Director of the Center for Customer Insight and the Center
for Innovation of the University of St. Gallen
Prof. Dr. Torsten Tomczak
No other mark of origin evokes such unique and positive associations around the world as
the Swiss cross. What is more: the Swiss brand entails significant goodwill that can be used
in almost any product category or industry.
Products and services that radiate Swissness project an image of top international
quality, reliability and trust or exclusivity and luxury. This reputation has been built up
over a very long period and can be traced back to the 16th century.
Entrepreneurs such as Abraham-Louis Breguet were the first to establish
the image of Swiss reliability. During the period of industrialization,
this image was cultivated by leading figures such as Henri Nestl, Fran-
ois-Louis Geigy and Hans Caspar Escher. The tradition has been
maintained today by typically Swiss companies such as Schindler,
Lindt and Kambly that operate successfully in the international mar-
kets. However, it is the watch-making and banking industries that have shaped the image
of Swiss business more than any other sectors.
To explain the true value of the Swiss brand image, it is necessary to look beyond purely
economic aspects: this image has also been formed as a result of the country and its people,
as well as by academic and political factors. The magnificence of Switzerlands mountain
landscape, its multicultural population, Roger Federer, the construction of the longest rail
tunnel globally, the worlds largest research centre CERN in Geneva, the countrys policy
of neutrality and the robust state of its economy and public finances are all factors that have
significantly influenced the way in which Switzerland is perceived beyond its borders.
Switzerlands brand is a meta brand whose positive image has fortunately remained
very stable, even during the financial crisis. This reflects the fact that Swissness is now
firmly established as a result of the countrys many recognized strengths and qualities, which
have existed for years and provide a strong and sustainable basis with which to meet future
One of Switzerlands key advantages in the competition between international centres is
undoubtedly its globally renowned education system. Together with Switzerlands reputa-
tion for open-mindedness which enhances its relationship with other countries its educa-
tion system and academic and scientific achievements are of decisive importance for its
image and prosperity.
The Swiss brand has developed over a number of centuries. The contribution that it
makes to Switzerlands prosperity is not to be underestimated. The same applies to invest-
ments in the countrys state-of-the-art infrastructure, which projects a positive image of
Switzerland to the rest of the world and earns it international respect. The Swiss road and
The Swiss brand has developed over a number of centuries. The contribution that it makes to Switzerlands prosperity is not to be under estimated.
Swissness a strong brand
2 Vontobel Portrait 2011
University of St. Gallen HSG
rail network is just one example. The federalist structures within Switzerlands political sys-
tem which is founded on the principle of consensus and a clear commitment to democ-
racy also underpin Switzerlands positive image. The