February 8, 2017 / 9:29 AM / 6 months ago

Vontobel says no sign of margin improvement in wealth management

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ZURICH, Feb 8 (Reuters) - Vontobel does not see scope to boost margins at its wealth management business due to lower client activity and negative interest rates, Chief Executive Zeno Staub said on Wednesday.

"We do not see room for margin improvement. Everything we have on our hands will need to be done to protect current levels of margin," Staub told the bank's annual results news conference.

"But we are convinced that -- with the product range, the focus and the up-selling potential we still see -- we will be able to protect current margin levels." (Reporting by Joshua Franklin; Editing by Michael Shields)

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