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Crossinvest joins CHF 59 bn wealth manager alliance

Crossinvest joins CHF 59 bn wealth manager alliance

Lugano-based independent asset manager Crossinvest is the latest group to join the growing Alliance of Swiss Wealth Managers.

The alliance is now made up of 24 leading independent wealth managers across Switzerland and encompasses a combined wealth of CHF 59 billion in assets.

Launched in 1985, Crossinvest is one of Ticino’s largest independent asset managers, with 53 employees and Finma-regulated status.

In 2016, the group opened an office in Zurich and this year incorporated Crossinvest Locarno, opening its second base in the Italian-speaking region of Switzerland.

Speaking to Citywire Switzerland, Andrea Poretti, CEO at Crossinvest, explained that the alliance will enable the firm to open a discussion with other big players across Switzerland that face similar problems linked to their size and structure.

Poretti said: ‘We believe this network could be interesting to face some common issues that all the asset managers experience. We believe that sharing knowledge and finding common solutions is a must in the current financial environment.’

The Alliance of Swiss Wealth Managers is an independent networking platform for larger wealth managers who have upwards of CHF 1 billion in assets under management.

The group holds regular meetings, during which members discuss a wide range of topics, including regulatory issues, investment ideas, information technology and infrastructure.

The meetings enable direct contact between Switzerland’s largest wealth managers, which is not always easy to find in Ticino, Poretti admitted.

‘Having the chance to enter a networking platform will grant us an improvement of our wealth management standards.

‘This growing association, that includes the most important asset managers, will give us the  necessary strength to take new and relevant topics to the government and financial counterparts,’ he said.

A growing network

The alliance was first created in May 2016 and is chaired by Felix Brem, partner at Reuss Private, and vice-chairman Amaury Jordan, partner at Avalor Investment.

The original founding members of the Alliance of Swiss Wealth Managers were Aquila & Co, Avalor Investment, Burgauer Huser Aman & Partner, Entrepreneur Partners, Forum Finance Group, Finaport, Helvetic Trust, Marcuard Heritage, OLZ & Partners, Reuss Private, Sound Capital, Swisspartners, Tareno and Weibel Hess & Partner. 

This year, Zug-based Zugerberg Finanz became a member, as did Geneva’s Citadel Finance and Zurich-based group Nahmani Grunder.

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