Reuss Private Group has a appointed new member of its board, the Pfäffikon-based firm has announced.
Carlo Grigioni was most recently divisional vice chairman of UBS Wealth Management. He also played a key role in establishing the Asian division at UBS during the 1980s.
Felix Brem, CEO of the firm, said the new hire will contribute to the expansion of the group's Asian business.
Commenting on his new position, Grigioni said: ‘I am happy to be able to support Reuss Private with my many years of experience and thus to contribute to further growth, especially in the growing Asian markets.’
Armouring for regulations
Reuss Private Group is set to launch an education programme offering asset managers and client advisers information on money laundering, suitability and cross-border advice.
The initiative will be called Reuss Academy and will officially be launched in the second half of 2017.
This is part of the firm’s objective to help wealth managers to stay independent and benefit from economies of scale required to tackle regulation.
Elsewhere, the group also reported a 19% increase in assets to CHF 2 billion. The total of managed and administered assets expanded to CHF 17 billion, marking a 25% boost.
‘We are very happy with our growth. It shows that our business model is working and we will continue to invest extensively,’ Brem said.