Swiss firm Zwei Wealth has hired ex-UBS executive as a partner to spearhead its platform development.
Frei has worked for over 12 years at UBS, latterly as its wealth management head in Zug and Schwyz.
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He also managed business development for fintech Altoo.
The firm approved the next phase of expansion last year, with development of its platform having an integral role.
This year, the firm intends to focus on two aspects. First, it plans to expand its advisory headcount by 15-20.
Second, it intends to further develop the open network into a comprehensive platform.
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By GlobalDataCommenting on the appointment, ZWEI Wealth CEO Patrick Müller said: “Pascal Frei brings exactly what we wanted for the platform development – experience in wealth management combined with Silicon Valley thinking.”
ZWEI Wealth’s website describes the firm as the largest independent ecosystem in wealth management. The firm claims that the ecosystem is entirely independent of banks, asset managers as well as other providers.
The firm was set up in 2014 by Klaus Wellershoff and Mueller.
Meanwhile, last year, another Swiss firm, REYL Group launched Alpian – a digital platform to service the mass affluent.
Recently, Alpian received $18m in a Series B funding round, which adds to the Series A round through which it added CHF12.2m ($12.5m).
The initial funding was carried out to build the digital bank, while the Series B round is aimed at launching the bank in the Swiss market.
