Vontobel acquires majority stake in TwentyFour

Vontobel acquires majority stake in TwentyFour

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Vontobel Asset Management has acquired a majority stake in TwentyFour Asset Management.

Zurich-based Vontobel completed its acquisition of a 60% stake in London-based TwentyFour, which was announced on March 25 2015.

"Vontobel's majority stake in TwentyFour underscores its positioning as an active asset manager," Vontobel's statement read.

"The acquisition creates an excellent opportunity to accelerate the international growth of Vontobel’s Asset Management business since the UK is one of the most important global asset management markets."

TwentyFour is an independent fixed income specialist providing services to wholesale and institutional clients in the UK.

By taking a majority stake in TwentyFour, Vontobel extends its fixed-income product offering and strengthens Vontobel Asset Management’s presence in the UK market. 

The transaction has been financed out of Vontobel’s own funds and is expected to be accretive for Vontobel in the first year with no significant integration costs.

Vontobel will continue to comfortably exceed its own target capital ratio of 16% and remains in a position to consider additional external growth opportunities, according to the firm.

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