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Former Nestlé alt investments chief forms AM firm

Former Nestlé alt investments chief forms AM firm

Nestlé's former head of alternative investments, Thierry Ralet, has founded his own consultancy and asset management company.

Ralet's new venture comes almost exactly a year after the Swiss food and beverage giant opted to dismantle its in-house asset management team. These functions were then handed to BlackRock.

His new company is called Phenix Consulting and Asset Management and is headquartered in Zug.

Speaking to Citywire Switzerland, Ralet said: 'After Nestlé terminated my contract I decided not to look for a new job but to set up my own company.'

At the moment Phenix Consulting and AM is composed of three members: Ralet, who serves as founder and CEO; Sean Corrigan, chief investment strategist; and Denis Klotz, who is responsible for the relationships with investors.

Ralet said this team will expand soon with the arrival of a CFO, CIO and a quantitative analyst.

Commenting on the launch, Ralet said: 'The start was very difficult because of the administrative process required to set up a company, which takes a lot of time and energy. The biggest challenge of all was to re-create the infrastructure of an asset management company from scratch.'

Looking further ahead, Ralet plans to launch two new products: a commodity fund and a high yield/low volatility/low correlation fund.

Due to his experience with alternative investments, all the products sold externally by the Phenix Consulting and AM are alternative funds.

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