Asset manager Ethenea and Mainfirst have merged their distribution support units. The new company, called Fenthum, is based in Luxembourg, according to a statement released by Mainfirst and Ethenea.

Fenthum will start supporting the distribution business of both companies. The merger of the teams will generate advantages for both customers and services provided, the companies said. Dominic Nys, who was in charge of the Ethenea distribution, will act as executive director of Fenthum.

Swiss Owners

Ethenea, Mainfirst and now Fenthum are majority-owned by Haron Holding, a Swiss company of Luca Pesarini. Pesarini used to be head of Julius Baer Germany, before he founded Ethenea.

In April 2017, he took control of Mainfirst through Haron Holding. Haron sold the bank to Stifel Europe last year and retained the asset management.