Vontobel says has substantial firepower for acquisitions

ZURICH, July 30 Wed Jul 30, 2014 2:01am EDT

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ZURICH, July 30 (Reuters) - The chief executive of Swiss bank Vontobel said on Wednesday the bank has substantial firepower for acquisitions and tap the market for hybrid capital if needed.

"We could easily have been to the market for hybrid capital which we haven't done so far, which all of our peers have done. So we still estimate that we have significant firepower if we want to use it," Vontobel Chief Executive Zeno Staub said on a media call following the release of the bank's first-half results.

Staub also said the bank remains very choosy on potential targets for acquisition. (Reporting by Joshua Franklin)

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