Cité Gestion, a Switzerland-based private bank, has reached an agreement to merge its business with multi-family investment office Sartus Capital.
With headquarters in Geneva, Sartus Capital was established in 2016 by XP, a wealth management firm.
Sartus Capital, which was bought back by its Swiss management last year, currently employs 13 people jointly led by Sven Blake and Stéphane B.
All the employees have become part of Cité Gestion, following the merger, the bank said in a Linkedin post.
Blake said: “This merger strengthens the scope and scale of the services we can deliver to our clients.
“It brings together a dynamic group of managing partners, who are successfully running the fastest growing private bank in Switzerland. We at Sartus are overjoyed to contribute to this endeavour.”
According to Stéphane B, the merger complements Sartus Capital’s existing business in Latin America and allows the firm to continue to deliver independent advisory services.
The latest move has expanded Cité Gestion’s total assets under management to around CHF7bn ($7.5bn) and increased it workforce across its four branches in Switzerland to 100 people.
The consolidated entity will offer improved wealth management services to its clients and facilitate economies of scale, among others.
Cité Gestion private bank CEO Guy Barbey said: “Teaming up with such professionals is a fantastic opportunity for us all.
“We share the same passion in serving clients and building a company, which puts human relationship at its centre.”