Banking group Reyl & Cie will acquire a minority 40% stake in Geneva-headquartered 1875 Finance, a multi-family office and independent asset manager.
Co-founders Olivier Bizon, Paul Kohler, Aksel Azrac and Jacques-Antoine Ormond will jointly retain control of 1875 Finance with a 60% stake and “remain fully committed to the company’s long-term development”, they said in a statement.
As part of the transaction, Reyl and 1875 Finance will enter into a business partnership where Reyl will act as preferred partner for 1875 Finance and its clients across a range of products and solutions in wealth management, asset management, corporate advisory and structuring and asset services.
The partnership, which remains subject to regulatory approval, will allow Reyl to strengthen its private banking activities in Switzerland and internationally.
Growth
François Reyl, Reyl Group chief executive, said: “This transaction sets a precedent in the ongoing consolidation of the sector and shows that banks and IAM can establish innovative partnerships where both parties benefit from multiple growth opportunities for their respective client base without relinquishing their business model, management autonomy or franchise.
“We expect to build a lasting business relationship and to create powerful synergies between the two entities. In 1875 Finance we have found a highly compatible partner with a shared entrepreneurial mindset, a first-rate team and common values throughout.”
1875 Finance co-founders jointly said: “Through this ground-breaking partnership, we retain our full open architecture and entrepreneurial business model cherished by our clients. We will also benefit from new processes, products and services to accelerate the development of our core wealth management, family office and institutional business lines and to provide enhanced value-add to our clients.
“1875 Finance will remain an independent asset manager regulated by Finma with the ability to grow both organically and via acquisitions in Switzerland and abroad, with the support of our new shareholder.”
