Vontobel reported a record first-half 2026 profit of 216 million Swiss francs, up 87% from a year earlier, as revenue rose about 24% to 852 million francs. The cost‑income ratio improved to 67.9%, beating the firm’s through‑the‑cycle target of 72%, while return on equity climbed to 16.9%. Assets under management reached 252.2 billion francs, and net new money totaled 2.5 billion francs, though inflows were affected by Raiffeisen’s insourcing of the Futura mandate and outflows from Quality Growth strategies. Private Clients drew inflows across regions, with notable momentum in the Americas, including the June opening of a Los Angeles office, and plans for a Düsseldorf branch in October. The results reflect higher client activity with a tighter cost base, and the group emphasized continued expansion of its U.S. presence and product capabilities. Net new money, revenue, efficiency, profitability and capital all remained ahead of long‑run targets as the firm pressed ahead with its strategic expansion.