Adrian Herzog, a founding partner of Zurich-based wealth manager Entrepreneur Partners, left the firm at the end of July.
This was confirmed to Citywire Switzerland by Daniel Müller, one of the managing partners and co-founders of the firm.
‘He said he wants to spend more time with his family and this is the reason for his departure,’ Müller added.
Herzog has been with the firm since its launch in 2008, and looked after 10% of client assets on the wealth management side. These might potentially leave the firm with him.
Entrepreneur Partners currently has about CHF2 billion under management in its wealth management division and CHF400 million on the asset management side.
‘We didn’t have anything resembling an “ugly divorce”. The only issue that is not resolved for now is the future of his shares in the company but I am sure we will find the solution soon,’ Müller added.
According to the commercial register of the canton Lucerne, Herzog is now a member of Lucerne-based firm Finezia that was founded in July 2017. This firm aims to offer wealth management services for private and institutional clients.
At Entrepreneur Partners Herzog acted as a relationship manager and wasn’t involved in the asset management part of the business or investment decisions.
Despite the potential outflow of assets on the wealth management side the firm has recently made a push in its asset management division.
Earlier in February 2017 the firm announced that Urs Wietlisbach, one of the founding members at Partners Group, joined the board of directors that currently includes Werner Dubach, Jürgen Dormann and Heinz Rotz.