Mr Saraco, already in April of 2014, you announced the firm’s ambitions to grow. What action have you taken since then?

First, we onboarded the clients of the former Centrum Bank (Switzerland), most of whom are now served by Belvédère Asset Management. Then, we consolidated Belvédère and Centrum, which went very smoothly.

Our business is now governed by the Swiss Collective Investments Act and supervised by Finma. We have been focusing on strengthening our brand and together with our Board of Directors we developed a clear strategy. The recent merger with Interesta is a first major outcome of these efforts.

How and why did you come to an agreement with Interesta?

First and foremost, this was due to Thomas Fischli’s and Peter Sechler’s personalities. We knew instantly this would fit. Particularly, as we share the same values in how we treat our clients and employees.

«Corporate size and asset value are critical in today’s market environment»

Interesta is well-positioned, structured and well-managed. This became more and more evident throughout the due diligence process. We were also all keen on ensuring that the founders of both companies remain invested and directly involved in day-to-day operations.

Both companies were financially sound and none of them was under any pressure to undergo this step.

How do the two companies fit together?

The companies complement each other very well. One of Interesta’s key strengths lies in client management and acquisition, whereas Belvédère is particularly well-positioned in the area of wealth management. So, this is primarily a strategic match. Cost synergies were not a priority and, consequently, we are not planning any staff reductions.

Swissness has been our hallmark all along, and now we will be located in Glarus, Zurich and Zug.

What are the advantages and improvements of your company after the merger?

In the current market environment, corporate size and asset value are crucial. In my view, these aspects will gain in weight over the years ahead. We have certainly enhanced our visibility in the market and are now in a position to increase our distribution significantly.

«Our opportunities for organic growth have improved considerably»

The potential «key people risk» is more broadly spread across our new organisation. Also, with the stronger front-office focus and wider client advisor base, our opportunities for organic growth have improved considerably.

Was this merger in any way driven by tightening regulation?

This was a factor, of course, but it was not the key driver. In our experience, regulation has become a key concern, particularly for high net worth families. Clients are interested in understanding how the company is managed and by which criteria it is supervised. Credibility is a pivotal element in our business.

Who are your client base?

Belvédère celebrated its 15th anniversary last year, and for this we are most obliged to Thérèse Meier, the founder. A number of highly affluent families and individuals have favoured us with their trust for many years. This client base has been widened with Interesta, and we are now also managing institutional wealth.

How does your company differentiate itself from its peers?

We have a long-time track record and proven sustainability in serving clients and in wealth management. With the merger, we now have a better succession plan in place for serving our clients.

«On the asset management side, we are opening our investment funds to the market»

One of our key features is certainly our experience and skill in managing large assets, which benefits all of our clients. We take a very personal and active approach to serving each of our clients individually. In our view, this is the only way of providing family office services successfully.

On the asset management side, we are opening our investment funds to the market, and we have several ideas more for the next one to two years. In addition, we offer specialist expertise in managing art collections, an area that is also gaining in importance.

After the merger, your company now manages 2.4 billion francs in assets. What are your goals and your time horizon?

We have developed a five-year strategic plan, which we intend to implement with discipline and diligence. I am confident that with this approach we will be able to meet our objectives and grow our assets under management.

«We will certainly take a look at any interesting applications, notably from client advisors»

We want to further diversify our business, with a clear focus on asset management. We are also planning to build up additional expertise in new specialist areas over the coming years.

Are you envisaging any further mergers?

We are now focusing primarily on taking the time necessary to consolidate our company. This is crucial to making this transaction a success. However, being very well capitalised as before, we do have a certain scope for action.

Are you looking to increase your staff, and if so, in which roles?

We are now broader based, which makes us an appealing and conscientious employer who values and respects its employees. We will certainly take a look at any interesting applications, notably from client advisors, even though recruitment will not be our top priority over the next months.

• Click here for more information on the merger.