Swiss wealth managers Belvédère, Interesta to merge
Two established Swiss wealth managers – Belvédère Asset Management AG and Interesta AG – are to join forces, forming what is expected to be one of the largest independent wealth managers and family office services providers in Switzerland.
The deal is subject to the approval of the Swiss Financial Market Supervisory Authority (FINMA).
The newly-merged company will keep the Belvédère Asset Management name, and will hold combined assets under management totalling more than CHF2.4bn (US$2.4bn, £1.94bn). It will employ some 30 employees, as no jobs will be lost as a result of the merger, the companies said.
The Vaduz, Liechtenstein-based Marxer Foundation for Bank and Company Values, the majority shareholder of Belvédère, will retain a majority stake in the merged company as well, according to a statement announcing the merger.
Giorgio Saraco remains chief executive officer of Belvédère AM, while the board of directors will be composed of Florian Marxer (chairman), Thérèse Meier and David Garcia, as well as Peter Sechler and Martin Landolt from Interesta, as the new vice chairman and member, respectively.
Peter Sechler and Thomas Fischli, the former owners of Interesta, will remain active in senior executive roles, the latter as deputy chief executive officer and member of the executive board.
In a statement, Marxer said Belvédère’s merger with Interesta – “our partner of choice” – was in line with Belvédère’s growth strategy.
Belvédère Asset Management was founded by Meier in 2001 as a wealth management company based in Zurich. Glarus-headquartered Interesta was launched in 2008.