M and A
Deals Of The Day: The Latest In Wealth Management M&A – REYL Intesa Sanpaolo, Carnegie
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
REYL Intesa Sanpaolo, Carnegie Fund Services
REYL
Intesa Sanpaolo has acquired Carnegie Fund
Services, the Swiss fund representative that was founded in
2003.
Carnegie services clients encompassing fund management companies,
boutique firms and large global asset management groups based in
Europe, North America, Asia, and Australia. It acts as a Swiss
representative for more than 100 global investment managers and
over 700 funds.
The financial size of the acquisition wasn’t disclosed in the
statement yesterday.
The deal “marks a significant milestone” for REYL Intesa
Sanpaolo's Fund Representation Solutions department which already
offers Swiss representation as well as paying agent solutions
asset managers, REYL Intesa Sanpaolo said.
"REYL and Carnegie are both considered pioneers in their own
rights and have established themselves as respected institutions
known for their client-centric approach and commitment to
excellence,” Colin Vidal, head of business development at REYL
Intesa Sanpaolo's FRS, said.
Founded in 1973, REYL & Cie, which manages assets of more than
SFr26 billion ($29 billion), in 2021 entered into a strategic
partnership with Fideuram - Intesa Sanpaolo Private Banking.
Fideuram ISP acquired a 69 per cent stake in REYL & Cie. In
December 2021, REYL & Cie bought a 40 per cent stake in 1875
Finance, a Geneva-based multi-family office and independent asset
manager with over SFr13 billion of assets under management for
private clients.
