Asteria, the Swiss bank's newly-launched impact investing business, is teaming with Swiss boutique Obviam on private equity.
Geneva-based Asteria and Obviam, at home in Bern, are inking a strategic partnership, the two firms said in an emailed statement on Thursday. Neither gave financial details of the move, which will see Asteria head Katia Coudray become CEO of the combined entity, which is to manage 1 billion Swiss francs ($1.1 billion).
The 30 staff of Obviam, which is specialized in private equity, will continue to be overseen by founder Claude Barras. Reyl will remain committed to Asteria Obviam following its recent landmark deal with Intesa Sanpaolo's wealth management unit.
Retention Measures
All of Asteria Obviam's assets appear to stem from Obviam, which was founded 20 years ago. The newly-formed company said senior management at Asteria and Obviam will become significant shareholders in the new entity «in order to ensure talent retention and incentivization.»
The combined group is comprised of 50 employees. Coudray, who ran Bank Syz's asset management unit until 2018, said the merger will allow more intense collaboration between the public and private sector on sustainability.
