Former Pictet euro equity chief Daniele Scilingo has broken away from Baar-based boutique Crossbow Partners, Citywire Switzerland can reveal.
After joining the firm in October 2015, Scilingo set up nanos investment – a separate unit within the company – to develop an unconstrained equity business.
From October this year, Scilingo has begun to operate nanos investment as an independent company, based at Technopark Lucerne.
‘The newly acquired independence will open up incredible opportunities to team up with like-minded private investors and institutions – both innovative newcomers and established brands,’ he said.
The asset manager moved to Crossbow Partners after 14 years at Pictet, where he looked after Swiss and European equities.
During his two years with the Baar-based boutique, Scilingo developed an actively managed certificate with a portfolio of Swiss companies.
According to one of the partners at the firm, Stefan Steiner, the certificate has been liquidated, as the hedge fund-focused firm is not able to run it following the departure of its architect.
‘We raised CHF 20 million for this certificate, but couldn’t go further than that. We are planning to focus on alternative investments from now on, but if a senior manager with equity expertise would want to join us in the future, we are open to that.’
Crossbow Partners currently has 16 partners. It hired two ex-HSBC hedge fund specialists to complete its alternative investments arm in August 2017. The firm is currently planning to make one more hire in January.