Swiss private bank Vontobel has postponed its secondary public offering in the wake of the collapse of its internet banking venture.

The decision for a share reconstruction to increase public ownership of the bank and reduce the Vontobel family's voting power from 80% to less than 50% was taken in January. However, it has put this on hold after pulling the plug on its internet bank, y-o-u, and sacking three senior members of its management and board.