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Vontobel to Run Asset Management Arm as Separate Entity

Vontobel Holding AG, a Zurich-based bank and wealth manager, plans to operate its asset-management arm as an independent legal entity.

The unit, which oversaw 72.1 billion Swiss francs ($74.3 billion) as of June 30, will be called Vontobel Asset Management AG and will operate as a wholly-owned subsidiary of the holding company, according to a statement today.