GMG and Quaestor Coach Partner to Expand and Consolidate Swiss Wealth Management Market
Published on 18th April 2023
GMG Asset Management SA (GMG) is excited to announce its partnership with Quaestor Coach AG, a Swiss-based independent private equity boutique specialized in the acquisition and development of wealth and asset management firms. This partnership will provide GMG with privileged access to consolidation opportunities in the Swiss wealth management market and enable it to expand its offering to clients.
GMG, an award-winning asset manager and multi-family office headquartered in Geneva, Switzerland, was granted its license by FINMA as a manager of collective assets in 2019. The group brings over 20 years of international wealth management structuring and management experience with a cross-border license in the Republic of South Africa (RSA) and offices in the UAE. Quaestor Coach is an institutionally supported private equity boutique with a successful track record in “buy and build” strategies, including seven successful acquisitions in the Benelux and two in Switzerland. After being identified by Quaestor Coach as a leading wealth management platform in the Swiss market with vast experience with international clients, the Geneva Management Group was selected for a Joint Venture focusing on the ambitious acquisition of Assets under Management (AUM).
This partnership will help GMG accelerate its growth strategy and further consolidate a dominant position in Switzerland’s private wealth management market. In addition, Quaestor Coach and GMG are interested in acquiring both independent asset managers and wealth managers as well as attracting relationship managers or teams from banks and independent wealth managers at attractive financial conditions.
“We are thrilled to partner with Quaestor Coach at this unique time of structural consolidation in the Swiss financial industry. Their support and collaboration will provide GMG with the optimal resources to grow our platform and attract portfolio managers, asset managers and bankers through acquisitions. We are confident that this partnership will be a success,” says Dave Elzas, founder of GMG, who under the new partnership, will assume the role of CEO to drive forward the group’s strategy and business activities.
Mathias Vandermeeren, Acquisition Manager of Quaestor Coach, added: “We are very pleased to invest in GMG and further establish our presence as a group in Switzerland. We have been impressed by the team’s expertise and the company’s solid track record in asset management, as well as their capacity to bring in quality teams of professionals with a strong entrepreneurial culture. We are confident that our joint expertise can help Dave and his team accelerate their projected growth.”
Quaestor Coach’s entry into the Swiss Market materialized with the acquisition of Zurich-based independent wealth managers Diem Client Partner AG (DCP) in 2021 and Investarit AG in 2022. Its partnership with GMG further solidifies its commitment to the Swiss market and its strategy of working closely with the management teams of the companies it invests in to enable their growth ambitions. As a passive investor, they focus primarily on profitable companies with loyal and dynamic management teams to give rise to shared aspirations. With this Joint Venture, Quaestor Coach and GMG intend to form one of the leading Asset and Wealth Management platforms in Switzerland and become a prominent player in the ongoing consolidation phase of the Swiss Wealth Management market.
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