Gonet & Cie SA and Mourgue d’Algue & Cie, two private banks based in Geneva, have decided to merge and entre a new phase of development in a rapidly changing banking environment.
With capital well in excess of its regulatory requirements and managing around CHF5bn in assets, the new entity will show its ambitions in the ongoing consolidation within the wealth management sector in Switzerland and particularly in the Geneva financial centre.
Nicolas Gonet will be CEO of the combined entity, which will operate under the Gonet brand. The two partners of Mourgue d’Algue & Cie, Pierre-André and Swana Mourgue d’Algue, will join the entity’s senior management and continue to serve their client base.
Nicolas Gonet, CEO of Gonet & Cie said: “The merger with Mourgue d’Algue & Cie fits in perfectly with our dynamic of qualitative growth and reflects our desire to be among the most proactive players of the Geneva financial place.”
The effects of this merger will be retroactive to 1 July 2018, subject to approval by the relevant regulatory authority (FINMA).