A fast-growing wealth manager in Geneva has reached an agreement to buy the Swiss arm of a U.K.-based rival.
Geneva-based Decisive Capital Management has acquired Artorius Wealth in Zurich, it said in a statement. Neither boutique firm disclosed financial details of the transaction, which closed on Friday.
Decisive, which is on a hiring tear, said Artorius, a multi-family office and wealth manager, will strengthen its wealth platform, its presence in Zurich, and support it in delivering long-term value to its clients.
U.K. Clients Via Switzerland
Based in Manchester, Artorius is owned by management, employees, and several ultra-wealthy individuals, manages £1.5 billion ($2.03 billion) overall. It will through Decisive continue to offer resident non-domiciled clients a platform in Switzerland for their international financial affairs, Chairman Ian Marsh said.
It isn't clear how large Artorius' book in Zurich currently is. Its Swiss assets stood at 1 billion francs ($1.1 billion) four years ago, it said in a case study for Julius Baer.
Six-year-old Decisive was founded and is run by Elie Chamat, a veteran wealth adviser who ran Deutsche Bank’s Saudi Arabia offshore business in Geneva for seven years. It employs roughly 100 people in Geneva, Zurich, and London and manages $6 billion.
