About Georg Schubiger
In 2018 and 2019, Georg Schubiger discussed Vontobel’s strategy in wealth management, including digital initiatives and acquisitions. He described the creation of a "digital hub" in Wollishofen, which he called "Wolly Valley," where teams from customer advisory, IT, product development, and marketing work together to develop digital services and shorten development cycles. Schubiger stated that Vontobel evaluates new customer segments and already serves clients with assets under one million Swiss francs, and he said that digital tools could allow the bank to serve such clients more efficiently.
Schubiger also commented on the integration of Notenstein La Roche following its acquisition by Vontobel, saying that client and employee feedback had been positive and that the acquisition was intended to support organic growth. He noted that Vontobel had demonstrated organic growth over the previous six years. In 2019, Schubiger presented the "Walt" wealth management app, which he described as an active asset management service allowing clients to influence investment themes. He said the app was intended for both existing and new clients and that Vontobel was increasingly moving into digital client acquisition, while maintaining its network of physical locations and client advisors.
Source: AI-verified profile updated from Georg Schubiger's recent appearances.
Browse all interviews →
Transcript (19 segments)
I
Interviewer0:04
Mr. Schubiger, after the acquisition of Notenstein La Roche, how does the integration come along?
G
Georg Schubiger0:12
The integration has come along very well and very fast. We are very satisfied.
I
Interviewer0:15
Now there are certain issues about the locations of Vontobel and Notenstein. How have they emerged?
G
Georg Schubiger0:24
We don't think there are issues; there are opportunities. In certain locations, we have two teams, and we will bring them together at one location so they can continue to grow in a much stronger fashion than before.
I
Interviewer0:39
How were the reactions of the clients of Notenstein La Roche after the announcement of the acquisition?
G
Georg Schubiger0:46
The reactions were very positive. The clients know us as an institution, they know our brand, our heritage, and our culture. I think that fits very well. We have received a lot of communication from clients and employees that they are very satisfied with the solution that the bank has found.
I
Interviewer1:07
Vontobel said that its intention is to retain all the client relationship managers from Notenstein La Roche. Are they all coming to Vontobel?
G
Georg Schubiger1:20
We said from the very beginning that we did this acquisition to continue to grow organically. When you want to grow organically, you have to build on the staff that is doing that job today. We have very positive feedback. We have talked to every single one of them, and we are very positive that they will join us.
I
Interviewer1:39
Now this integration takes quite some capacity of your management resources. Does this have an impact on the organic growth of wealth management at Vontobel?
G
Georg Schubiger1:51
No, not at all. Over the last six years, year after year, we have shown that we have a strong capability to grow organically. That is our core strategy, and we will continue to do so.
I
Interviewer2:05
The US wealth management business is also part of the core strategy of Vontobel. There have been quite some changes in the past few months: you had a change of CEO, you closed down Dallas. Is that just an alignment or a change in strategy?
G
Georg Schubiger2:25
Yes, US customers are a substantial part of our business and have been growing very successfully over the last years. We had a change in CEO, we had a team that left us, but we have actually a larger team that has joined us. I would almost call it a bit of normal churn. These are things that sometimes happen; sometimes people are not entirely aligned. But the organization is very stable and it is growing at the moment.
I
Interviewer2:56
Vontobel is also driving innovation in wealth management. You are building a digital hub for wealth management. Is wealth management moving towards platform banking?
G
Georg Schubiger3:11
Well, what we have done is we have combined people that develop new services and applications in one location. There is a team in Walchwil, we call it Walchwil Valley, where we have relationship managers, IT, product development, and marketing. They develop future applications together, and we can significantly reduce the development cycle. They work on internal processes to make advisory more efficient through digital tools, and also on customer digital services supported by relationship managers. The goal is to make processes shorter, break silos. If you ever have time, you should visit them — there's a real startup atmosphere out there. I'll be glad to look into it.
I
Interviewer4:12
Are you targeting also different client groups through that digital hub?
G
Georg Schubiger4:18
We are always assessing what different client segments we could go into. We already have today a substantial number of smaller customers, and we are evaluating how to address them. Through digitalization, combining digital services with human services, we can also serve customers with lower wealth in a very efficient manner, so that they can profit from our investment capabilities.
I
Interviewer4:49
Where are you going to start with the rollout of this digital hub?
G
Georg Schubiger4:54
We haven't decided yet. The digital hub exists; it's not a project that finishes. We see digitalization and the interaction of digital services with relationship managers as an ongoing process. We have certain applications we are testing internally already. We will internally roll it out in the second half of the year. Customers will feel a certain impact. It's not a project that starts and ends.
I
Interviewer5:26
Mr. Schubiger, thank you very much.
