Geneva-based Citadel Finance and wealth manager and multi-family office Nahmani Grunder have become the latest to join the Alliance of Swiss Wealth Managers.
The alliance comprises 23 leading independent wealth managers across Switzerland and encompasses a combined wealth of CHF57 billion in assets.
Established in May 2016, the alliance has grown from 14 members and CHF40 billion in just under a year.
The ‘alliance of Swiss wealth managers’ is an independent networking platform for larger wealth managers who have upwards of CHF1 billion AuM.
The group holds regular meetings, during which members discuss a wide selection of topics, including regulatory issues, investment ideas, information technology and infrastructure.
Speaking to Citywire Switzerland about the alliance, Pascal Roduit CFO at Citadel Finance said: ‘Our line of work is in the middle of a big transformation and thanks to the alliance it is now possible to share expertise and collective experience to make advances on key issues including new technologies, the regulatory evolution and even investment solutions.’
Commenting on the advantages of the alliance’s CHF1 billion requirement, Roduit added: ‘Be it in terms of structure, of business strategy or of solutions on offer, we have specific problems to deal with linked to our size.
‘The alliance offers us the possibility to collectively consider the best ways to improve our wealth management standards.’
Citadel Finance joined the alliance at the beginning of April, having been in talks since last autumn.
The Geneva group joins at the same time as large independent asset manager Nahmani Grunder, which has offices in both Zurich and Geneva.
Other recent newcomers include Zug-based Zugerberg Finanz, which became a member in March.
The alliance 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 are 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.