In a remarkable statement, Swiss wealth manager Helvetia Wealth has announced a corporate strategy aimed at providing its shareholders and employees with “an opportunity to emerge and prosper from the financial markets' darkest hour.”  

Chief executive Kamil Stender quoted Baron Rothschild: "When there is blood on the streets, it’s time to buy,” saying that his firm sees an opportunity to grow by acquisition with “peer companies priced at deeply discounted valuations.”

Chairman Ottmar Ruoff, formerly at ABN Amro and Deutsche Bank Private Banking, explains: "By rolling-up other wealth managers Helvetia Wealth expects to grow very quickly our assets under management and create economies of scale and enhance value to all stakeholders."

The firm says it is already in discussion with ten prospective targets across Europe, with four at advanced stages of negotiation. At least one acquisition is expected to complete before year end. Mr Stender believes that "once the market begins to correct over the next two years, the value appreciation of acquired assets alone will tremendously increase AUM; that the acquisition of thousands of new client accounts will substantially increase our distribution network and therefore strongly position the Helvetia Wealth brand as a premium Swiss based provider of onshore and offshore wealth management services." 

Once critical size has been reached, the board is considering the strategic merit of converting Helvetia Wealth into a bank; if prevailing market conditions are favourable an IPO will also be looked at.

Helvetia is based in Zurich, with offices in Geneva, Liechtenstein, London and Dublin.