Singapore-based independent asset management group SingAlliance has opened a Swiss unit in Geneva, Citywire Switzerland can reveal.
SingAlliance Switzerland is headed by the two co-founders of the Swiss unit, CEO Sebastien Waefler and CIO Edouard de L’Espee, who are part of a team of six in the new branch.
The duo are portfolio managers on a dynamic yield fund at asset management boutique Quaero Capital, which is situated in the same building as the new Singaporean group’s office.
The Swiss business was set up at the end of the summer and is now looking to continue its rapid expansion by hiring portfolio managers and wealth managers. It also plans to apply for the Finma licence.
With this, the Swiss unit is looking to roll out a couple of funds, Waefler told Citywire Switzerland.
‘The Asian client business wants European managers to diversify their investments, so we plan to develop strategies for the clientele and it makes sense to have onshore asset management expertise (both in Asia and Europe) for the clientele,’ he said.
The wealth management group has asset management capabilities in Singapore, with funds in fixed income high yield emerging market debt and Greater China equities, both registered for sale in Switzerland.
Overall, the group has more than CHF 1 billion in assets under management.
The SingAlliance Singapore was first launched in 2011 by Thierry Beck, the CEO and executive director.
Prior to founding the company, Beck founded OAM Finance, a group which offers securities management and consultancy services, and has held the position of director on the Wealth Management – Financial Intermediaries desk at UBS.