Swiss bank Vontobel exits brokerage business to focus on investment management

ZURICH (Reuters) - Swiss private bank Vontobel is exiting its brokerage business, it said on Monday, a move that includes selling its equity unit to Zuercher Kantonalbank (ZKB) as it focuses on buy-side investment management for wealthy clients.The changes will affect about two dozen jobs and include the departure of long-time investment banking head Roger Studer from his operational role. ZKB plans to acquire Vontobel's equity brokerage activities, with six employees of Bank Vontobel Europe AG..