The appointment of previous Credit Suisse economist Martin Neff constitutes a further confrontation against Vontobel.

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Martin Neff will commence his new duties as chief economist of Raiffeisen Switzerland on the 1st of April 2013. As the Raiffeisen group revealed, this happens within the framework of a strategy, which aims to increasingly act as an assets bank.

Neff looks back on many years of experience with economics. He graduated as an economist at the University of Konstanz and was the head of economic research as well as the chief economist of Credit Suisse.

Creation of a research team

Neff has acquired an outstanding reputation in that position, among other areas as an expert of the Swiss real estate market.

From April 2013 onwards, Neff will be in charge for the analysis of macro-economic general conditions at the Raiffeisen group and represent the bank on economic issues to the public. He will also create the new research team.

Affront against Vontobel

Vontobel is probably not very happy about this development. It co-operates with Raiffeisen and has supplied research to the Raiffeisen group so far. However, their relation has cooled down considerably over the last two years, as also finews.ch has been reporting about.

As Raffeisen bank told, the development of competences for issues of assets and investment forms part of the strategic development of its business model.

Confusing for clients

Raiffeisens's clients might be confused in the future about the question whether they should follow Vontobel's or Neff's views on the market. However, this issue will become clearer in the future.

This most recent move does, however, reinforce the impression that Raiffeisen is secretly destabilizing its relation with Vontobel, as sources from the sector report.

New concentration of strengths

«Having Martin Neff means to have a distinguished expert in our team, who will contribute to the public perception of Raiffeisen as an institution that contributes to creating views and is a specialist in questions of assets», says Ernst Näf, head of the investment client sector at Raiffeisen Switzerland.

Raiffeisen concentrates its expertise in real estate and investment within the organization through this decision.