Geneva-headquartered private banking group Bordier & Cie has purchased a majority stake in Helvetia Advisors, located in Montevideo, the capital of Uruguay.
The acquisition, subject to regulatory approval, is expected to close on 31 July 2018.
Helvetia Advisors is an investment advisor that is regulated by the Central Bank of Uruguay and founded by its current shareholders in 2010.
Comprising three senior bankers and additional staff with experience in wealth management, the Uruguayan firm provides investment advice to private clients Helvetia Advisors S.A. provides investment advice to private clients in the Southern Cone region.
Grégoire Bordier, senior partner of Bordier & Cie said: “We have been present in Uruguay for many years and this acquisition confirms our commitment to the region and our interest to grow in Latin America’s Southern Cone, a region with great potential in terms of wealth management business.”
Daia Feigenwinter, Head LatAm & Iberia at Bordier & Cie added: “We are excited to welcome Helvetia Advisors’ team and their clients to Bordier & Cie and look forward to serving and growing our client franchise together. We consider it of strategic importance being physically close to our client base while offering an independent open architecture product platform through multiple digital channels.”
Bordier & Cie has been present in Montevideo since 2007.