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Fast-Growing Swiss Wealth Manager Plans Further Acquisitions
Knud Noelle
12 March 2010
Helvetia Wealth, the Swiss wealth management firm, plans to continue to grow, the firm’s chief executive has told Dow Jones. Five-year old Helvetia Wealth has conducted several acquisitions in recent months and is looking for cash-raising options for further growth. Kamil Stender, the firm’s chief executive, told the newswire that Helvetia is thinking about either public listing or an investment from private equity to raise the capital needed for further growth. A spokesperson at the firm also told WealthBriefing: “We definitely see the opportunities” for further non-organic growth. This may include the acquisition of independent financial advisors or other wealth managers. The money the firm plans to raise will be purely for its acquisition programme. These comments come after the firm announced in mid-January that it bought a “strategic stake” in Dahl & Partner Vermögensverwaltung, the former media group Axel Springer family office in Hamburg for an undisclosed sum. In December last year, Helvetia Wealth had already bought Glasgow-based City Gate Money Managers along with a controlling stake in London-based TAM Asset Management, adding 25 staff to its payroll, saying it regarded the UK as a key market. The firm said it is the fastest growing independent financial services provider in Europe. Its core business is private banking and asset management. “Due to our size and flexibility we are able to provide allocation strategies across all asset classes for its sophisticated private and institutional client base. Clients have access to pure open architecture financial solutions,” the spokesperson told this publication. Helvetia Wealth believes that the financial crisis has led to clients becoming disenchanted with larger banks, due to portfolio performance and subprime issues. This is where it sees its best market opportunities. Due to its recent acquisitions, the Swiss firm now has SFr1.1 billion (around $1.03 billion) assets under management.