Turicum Private Bank, a privately owned bank and wealth management firm founded in Gibraltar through a partnership of Swiss private bankers, lawyers, and asset management professionals, has taken a stake in Hassium Asset Management, a wealth management specialist providing discretionary investment management service and investment consulting, and which gives a footprint into the UK.
That market is a key focus of Turicum. The deal will see the Swiss firm’s specialism in regulatory compliance, risk management and corporate governance combine with Hassium’s expertise in global financial markets and actively managed investment solutions, the companies said.
No changes are expected to existing investment mandates of their respective client books. Similarly, existing client relationship managers will remain. The objective is to provide a wider range of banking services and investment advice.
Andreas Businger, CEO and executive director of Turicum, commented: “This partnership represents an exciting landmark for Turicum, as our first physical presence in the UK and part of our long-term vision. Hassium’s experience and long-standing reputation, with its focus on offering independent, trusted advice based on personal relationships, aligns perfectly with Turicum’s own ethical values. We are confident that Yogi [Dewan, CEO and founder of Hassium] and his team will strengthen and increase the value we offer all our clients and look forward to expanding our reach in London and the UK in the coming years as we develop our tailored solutions to a broader range of clients looking to safeguard and grow their wealth.”
Yogi Dewan added: “As founder of Hassium, I feel great comfort knowing that Hassium has found a strategic partner that shares our professional values and provides new synergies. Joining Turicum grants us access to more resources, support and capital particularly in the areas of compliance, operations and technology from which all our clients will ultimately benefit, and we are excited to embark on this new partnership.”
