Bordier, a Geneva-based private bank, is acquiring an independent investment advisory firm in South America to strengthen its business in the region.
Bordier agreed to buy a majority stake in Helvetia Advisors based in Montevideo, Uruguay, the Swiss bank said in a statement sent by email on Monday. The bank didn’t say how much it paid for the stake.
Helvetia Advisors was founded in 2010 by the current shareholders and provides investment advice to private clients. It has three senior bankers plus support staff under contract.
Region of Interest for Bordier
«We have been present in Uruguay for many years and this acquisition confirms our commitment to the region and our interest to grow in Latin America’s Southern Cone,» said Grégoire Bordier, senior partner at the Swiss private bank.
Bordier has been present in Montevideo since 2007. It expects to close the acquisition as of July 31, 2018, subject to regulatory approval.
