Vontobel, the Swiss private bank, is set to launch two new private equity funds as part of its new strategy, after settling disputes with two of its independent funds, Private Equity Holding and 5E Holding.

The two new funds mark a fresh start for Vontobel's private equity division, as a management restructuring closes the chapter on the scandal surrounding the demise of former private equity head and deputy group chief executive Hans-Peter Bachmann. PEH's shareholders voted to leave the Vontobel Group after suffering losses in the last financial year. PEH and 5E are now managed by Swiss Life.