Half Year 2022 Vontobel Holding AG Earnings Call Transcript
Hello. Welcome, everybody. I'm here together with Thomas Heinzl, our Chief Financial Officer, and welcome you all for our Vontobel Half Year 2022 Presentation and Results. As usually, I will kick off with a couple of key points, then an update on strategy. Then Thomas will guide us through the numbers in all details. I will be back short for outlook, and then both Thomas and I do look forward to your questions and the discussions with you.
So first half year of 2022, we posted a robust result against a very difficult market environment that we are all aware of. This market environment has 3 implications for us as an investment firm. One, it obviously takes down asset levels and therefore revenues. We adjust through cost management through the cycle with a long-term view. Second, it reduces the willingness of clients to take decisions. We see this as we witness from clients that they struggle within the current uncertainty to take final asset allocation decisions. However, we have very
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