Helvetia Wealth acquires two UK asset management firms
(Thomson Reuters ONE) - Now more than 1 Billion Swiss Francs under managementPress Release, Helvetia Wealth AG, December 4, 2009Zurich/London/Glasgow: Helvetia Wealth AG announced today that it hasbought Glasgow-based City Gate Money Managers Limited and acontrolling stake in London-based TAM Asset Management, bothproviding investment products and services to financialintermediaries and investors, for an undisclosed sum. With theseacquisitions, Helvetia Wealth has increased its assets undermanagement to more than CHF 1 Billion, just four years after itsfoundation as an independent wealth manager."With the acquisition of City Gate and TAM we greatly expand ourpresence in the UK, one of our key markets, adding more than 25finance professionals to the Helvetia Wealth team. We anticipategrowing our UK business by streamlining processes to provide clientsaccess to Swiss wealth management services. In addition, TAM's LondonStock Exchange brokerage license allows us to execute trades fasterand achieve better margins for our clients", said Guy van der Walt,Vice CEO of Helvetia Wealth."We are delighted to be part of Helvetia Wealth Group as we see greatsynergies between the two companies in building assets for thefuture", commented Lester Petch, CEO of TAM Asset Management."It is very exciting to now work on a pan-European level withHelvetia Wealth, especially in these difficult times. The UK marketof independent financial advisers is chronically undercapitalized. Soby teaming up with such a well-capitalized group, we arewell-positioned to prosper from the coming UK market changes", saidStewart Domke, Director of City Gate Money Managers."We are very proud to continue growing. These acquisitions furtherincrease our market share as a premium Swiss based provider ofonshore wealth management services. Growing in the current adverseeconomic climate, which has seen many competitors go under, is thebest proof of the quality of our advice and products, and thestrongest endorsement for our clients and team. The financialservices market has been turned on its head, traditional marketleaders are under duress, and this creates a tremendous opportunityfor the younger players", commented Kamil Stender, CEO of HelvetiaWealth.National law firm Mills & Reeve advised Helvetia Wealth AG on bothtransactions. London law firm Norton Rose advised SPA CorporateFinance on the sale of TAM Asset Management and Birmingham-basedShakespeare Putsman acted for the sellers of City Gate MoneyManagers.About Helvetia Wealth AG:Helvetia Wealth is one of the fastest growing financial servicesbrands in Europe. The core business is the provision of Swiss privatebanking solutions and asset management services. The firm using anopen architecture business model, sits at the centre of a network ofbest of class third party suppliers and is able to bringinstitutional wealth management products and services to the widermarket. Helvetia has a team of private banking and institutionaladvisors from all over the world, who care for a quickly growingfamily of international clients. www.helvetia-wealth.comPress Officer:Axel J. SchafmeisterTel. +41 44 252 0708axel.schafmeister(at)shepard-fox.comThe press release can be downloaded from the following link:http://hugin.info/142427/R/1359193/331222.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 04.12.2009 - 11:52 Uhr
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