FERI, A Germany-based asset manager for institutional and private investors, has agreed to acquire Michel & Cortesi Asset Management to boost its footprint in the Swiss market.
The transaction is subject to approvals from the supervisory authorities.
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Following the receipt of approvals, FERI intends to merge Michel & Cortesi and FERI Trust AG (Switzerland).
FERI said that the partners of Michel & Cortesi will continue to remain in the company over the longer term.
Arnd Thorn, CEO of FERI AG, said: "This acquisition represents an important step for the strategic expansion of our business in
Switzerland. Like FERI, the activities of Michel & Cortesi are based on a high quality approach and our business models are ideally matched."
"We will benefit from the continued presence of very experienced asset managers for our team who possess a high level of expertise, particularly with respect to Swiss securities, and who provide a sensible extension to our range of services," added Thorn.
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By GlobalDataThomas Michel, founding partner of Michel & Cortesi, said: "We look forward to utilising our expertise and experience in order to targetedly expand the services of FERI in Switzerland as well as to offering clients measurable added value."
Managing assets of around CHF300m, Michel & Cortesi provides asset management and advisory services to institutional and private clients as well as in the administration of investment funds.
