A young Swiss private bank merging with a multi-family office to manage billions of Swiss francs in client assets is not something you see every day.
Geneva-based private bank Cité Gestion merged with multi-family office Sartus Capital, creating a new financial institution with nearly 7 billion Swiss francs ($7.5 billion) of client assets under management. Together, the two firms employ about 100 people at locations in Geneva, Lausanne, Zurich, and Lugano, the two companies announced Tuesday,
The Finma-approved transaction became legally effective in the middle of the year.
Geneva-based Sartus Capital was founded in 2016 and acquired by management in 2021. The company previously employed 13 people; co-management consists of Sven Blake and Stéphane Barthassat.
Private Since 2022
Cité Gestion's origins go back to 2009 as an independent asset manager under the umbrella of Geneva-based private bank Lombard Odier. In 2017, the six managing partners took it over in a management buyout.
Two years later, Cité Gestion teamed up with Zurich-based Ultra Finanz, expanding the top management team to eight people. Earlier this year, the firm received a full banking license from Finma and has since operated as a private bank.
