Swiss private bank Bordier & Cie has bought a majority stake in Helvetia Advisors, an investment advisory business based in Uruguay.

The size of the stake acquired or the financial terms of the deal were not divulged.

Established in 2010, Helvetia offers investment advice to private clients in the Southern Cone region. The Montevideo-based firm employs three senior bankers and support staff.

Bordier & Cie, set up in 1844, has been operating in Montevideo since 2007. The bank also has offices in Singapore, London, Paris, Geneva and Zurich.

Commenting on the deal, Bordier & Cie senior partner Grégoire Bordier said: “We have been present in Uruguay for many years and this acquisition confirms our commitment to the region and our interest to grow in Latin America’s Southern Cone, a region with great potential in terms of wealth management business.”

The deal is expected to be completed on 31 July 2018, pending regulatory approval.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Bordier & Cie head of Latin America and Iberia Daia Feigenwinter said: “We are excited to welcome Helvetia Advisors’ team and their clients to Bordier & Cie and look forward to serving and growing our client franchise together.

“We consider it of strategic importance being physically close to our client base while offering an independent open architecture product platform through multiple digital channels.”