Luxembourg-based private banker Andbank has acquired the asset management business of the Miami-based Swiss Asset Advisors.
Founded in 2008, Swiss Asset Advisors offers global investment solutions to wealth management clients with offices in Miami and Switzerland
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The acquisition, which is subject to the approval of banking authorities, is part of the international growth strategy of the group.
As a result of this acquisition, Andbank will close 2013 with more than US$17 billion in assets under management which doubles its size in the last five years.
Javier Rodríguez Amblés, managing director of Andbank’s wealth management arm in Miami, said: "This agreement gives us the opportunity to increase our presence from 5 to 11 countries, doubling the number of employees and increasing our assets volume to annual rates close to 20%, keeping one of the sector’s highest solvency ratios."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
