Private Banker International: Zurich’s latest wealth manager
Private Banker International
Tiedemann Constantia: Zurich’s latest wealth manager targeting HNWI
By Oliver Williams
September 3, 2019
US-based Tiedemann Advisors have announced they will open a new office in Zurich together with Constantia Partners, a Swiss capital consultancy.
The new business, which will be called Tiedemann Constantia, will provide wealth management services to HNWIs, family offices and foundations.
The Zurich-based firm will be led by Robert Weeber, founder of Constantia Partners. Pierre Bose joins as CIO and Gareth Maher as managing director: Both formally worked in Credit Suisse’s International UHNWI unit in the UK.
More Americans in Switzerland
Having a US partner on board was important to the venture, Weeber explains: “Given the interconnectedness of today’s markets, we were actively seeking a US partner to complement our investment offering”.
Recently several US banks and wealth managers have expanded their presence in Switzerland. Both JPMorgan and Goldman Sachs have upped their headcount in their Swiss offices this year while also nabbing executives from UBS and Lombard Odier.
“Given that the Swiss economy is doing well and there is a significant rise in millionaires around the world especially in Asian and African regions the demand for Swiss banking has never been so strong,” Sankar Krishnan, executive vice president of banking and capital markets at Capgemini, recently told PBI.
As well as capitalising on the rise in Swiss and European wealth, many US players are upping their Swiss presence in order to broaden their global appeal.
“Today’s alliance with Tiedemann better positions us to assist our current and future clients with their multi-jurisdictional wealth management needs,” says Weeber.
Tiedemann Advisors currently manages approximately $21 billion in assets under advisements with nine offices across the US. However, its Zurich partnership will be its first international presence.
“The opening of our Zurich office represents another milestone in our strategy to become a leading and preeminent, privately owned global wealth management firm that serves high-net-worth families and family offices across the globe,” said Michael Tiedemann, co-founder and CEO of Tiedemann Advisors.