A Ticino-based independent asset manager will merge with a rival in Zug to form a $3.8 billion boutique.
Zug-based Woodman Asset Management will merge with Pentagram Wealth Management, the two independent asset managers said in an emailed statement on Wednesday. Pentragram, which is based in Lugano, will be integrated into Woodman.
Neither disclosed financial details of the merger, which follows a close cooperation between the two firms in recent years. The combined entity will manage 3.5 billion Swiss francs ($3.8 billion), employ 40 people, and maintain offices in Zurich, Zug, Genevan, and Lugano.
Competition Heats Up
Woodman was founded in 2010 as a boutique for wealthy individuals and family offices to access niche and sustainable investment strategies. Pentagram is 17 years old and offers investment advice for private, professional, and institutional clients.
«The integration of Pentagram Wealth Management in the Woodman group is a unique opportunity for further growth in a competitive environment,» Alessandro Sonvico, CEO and Partner of Pentagram, said in the statement.
