Vontobel in alliance with ANZ as seeks to grow in Asia
ZURICH Nov 27 (Reuters) - Swiss bank Vontobel AG has signed a cooperation deal with Australia and New Zealand Banking Group Ltd (ANZ) aimed at expanding in the growth markets of Australia, New Zealand, Hong Kong and Singapore.
Under the alliance - set to start in the first half of 2013 - ANZ will offer Vontobel's investment and product expertise via its distribution network across the region.
"The planned alliance with ANZ offers attractive growth potential for our group and is a perfect example of our efforts to systematically extend our business activities into new growth markets," said Vontobel Chief Executive Zeno Staub.
Vontobel is a mid-sized Switzerland-based private bank which also specialises in asset management and investment banking. (Reporting by Emma Thomasson)
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