Vontobel, Raiffeisen at loggerheads over Wegelin unit

Swiss asset manager and investment bank Vontobel is taking large institutional shareholder Raiffeisen Switzerland to arbitration over claims the retail bank is not meeting the terms of a long-standing cooperation agreement. Vontobel said on Wednesday the banks had failed to come to an agreement over whether Notenstein Privatbank, which Raiffeisen…