Zeno Staub (pictured), chief executive officer, Vontobel, said the bank’s financial products were affected by the ‘general mood of caution among investors’ as well as the trend towards lower margin products, especially compared to the strong first half of 2018.

Vontobel has reported the volume of structured products and debt instruments outstanding (excluding leverage products) in the first half of 2019 increased by 30% to CHF10.3 billion (US$10.4 billion) compared to the end of 2018. The rise was due to money market products that were issued in larger volumes for the first time during this half-year period, according to the bank. The bank issued 9,702 structured products in its domestic market Switzerland between January 1 and June 30 2019, up 33% f

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