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Helvetia Wealth acquires two UK asset management firms

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Helvetia Wealth has bought Glasgow-based City Gate Money Managers and a controlling stake in London-based TAM Asset Management for an undisclosed sum.

Both firms provide investment products and services to financial intermediaries and investors.

With these acquisitions, Helvetia Wealth has increased its assets under management to more than CHF1bn, just four years after its foundation as an independent wealth manager.
 
"With the acquisition of City Gate and TAM we greatly expand our presence in the UK, one of our key markets, adding more than 25 finance professionals to the Helvetia Wealth team. We anticipate growing our UK business by streamlining processes to provide clients access to Swiss wealth management services. In addition, TAM’s London Stock Exchange brokerage license allows us to execute trades faster and achieve better margins for our clients," says Guy van der Walt, vice chief executive of Helvetia Wealth.
 
"We are delighted to be part of Helvetia Wealth Group as we see great synergies between the two companies in building assets for the future," says Lester Petch, chief executive of TAM Asset Management.
 
"It is very exciting to now work on a pan-European level with Helvetia Wealth, especially in these difficult times. The UK market of independent financial advisers is chronically undercapitalized. So by teaming up with such a well-capitalised group, we are well-positioned to prosper from the coming UK market changes," adds Stewart Domke (pictured), director of City Gate Money Managers. 
 
National law firm Mills & Reeve advised Helvetia Wealth on both transactions. London law firm Norton Rose advised SPA Corporate Finance on the sale of TAM Asset Management and Birmingham-based Shakespeare Putsman acted for the sellers of City Gate Money Managers.
 
Helvetia Wealth is one of the fastest growing financial services brands in Europe. The core business is the provision of Swiss private banking solutions and asset management services.

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