Geneva remains an attractive location for private banking. Today, Jupiter Wealth, an independent asset manager based in Dubai, is set to announce that it is opening a branch in the city on the Rhône.

This is more than just a prestigious office with a Swiss address, as Diego Wuergler makes clear in an interview with finews. He has recently taken on the role of Chief Investment Officer (CIO) at Jupiter Wealth and, as Head of Switzerland, is also responsible for building up the Swiss team.

Following UBS and Julius Bär, the Search for Entrepreneurial Spirit

Wuergler, who (contrary to what his name might suggest) grew up in Ticino, previously spent almost 20 years in various advisory roles at Julius Bär (and spent five years in Dubai himself); most recently, he led 130 client advisers across 17 different locations. He also brings experience from his previous role at UBS Wealth Management.

«I’m today 50 years old and found myself wondering what I wanted to do for the rest of my working life», says Wuergler, explaining his motivation for the move. «I have now deliberately taken on a challenge that lies somewhat outside my comfort zone – the banking sector.» He was attracted by the entrepreneurial spirit that characterises Jupiter Wealth.

Head Office in Dubai, Branch in Singapore

It is, in fact, a young, rapidly growing company, founded as recently as 2022 by Ravi Venkataraju (currently Group CEO). Today, with a staff of 85, it manages assets totalling around 2 billion dollars, primarily from very high-net-worth individuals and their family offices. Back in June, Jupiter Wealth – which is based in the Dubai International Financial Centre (DIFC) – established its first overseas presence in Singapore. It also has a branch in India.

«My task over the coming months is to build up a team of experienced banking professionals in Switzerland», states the new Head of Switzerland, adding that a Zurich office is also an option in the medium term. «We want to use our expertise in wealth management in the broadest sense to offer clients private banking services, without actually being a bank. Nor are we product-driven.»

Clients Should Be Familiar With the CIO’s «House View»

This is precisely where Wuergler sees a key competitive advantage. And with offices in Dubai, Singapore, India and now Geneva, Jupiter Wealth is also uniquely positioned geographically. Added to this is the human factor. «Until February, the company was a blank slate to me. But I’ve never felt such enthusiasm; everyone is pulling in the same direction, nobody is looking after their own little patch here – there’s a culture of growth.»

As CIO, Wuergler intends first to develop a «House View» with a model portfolio. «All staff should understand the reasoning behind the firm’s view.» This view is also to be communicated to clients through various channels – direct contact, presentations, studies, etc. – with Wuergler himself intending to play an active role. The firm’s view should, in principle, also be reflected in clients’ asset allocation. «However, our advisers will continue to have a great deal of flexibility so that they can cater to individual needs.»