Sandro Tiziani joined Fermat Capital Management from Bellevue Asset Management at the beginning of January. At the US-based ILS specialist, he is responsible for expanding and maintaining investor relationships in Switzerland and Italy.

Tiziani spent more than ten years at Bellevue, most recently as Head of Sales Switzerland. Prior to that, he held roles at Bank J. Safra Sarasin and Julius Baer. In total, he brings more than 18 years of experience in asset management and private banking.

Strategic expansion

The appointment underscores Fermat’s commitment to the Swiss market as well as its strategic expansion into Italy. «Switzerland has long been a cornerstone market for Fermat, and Italy represents a natural and compelling area of future growth», said Nelson Seo, co-founder and portfolio manager at Fermat, in a statement issued on Monday morning.

Tiziani’s appointment forms part of a broader series of expansion steps across the United States, the Asia-Pacific region, and Europe.

After the split from GAM

Until recently, Fermat’s European presence had largely been limited to the distribution of its catastrophe bond (cat bond) fund via GAM. Following the termination of this partnership (as reported by finews, article in German), Fermat is now building its own local sales resources, covering the boutique’s broader product portfolio. According to the firm, Fermat manages more than $10 billion in assets and, in addition to ILS, also offers strategies in trade finance.

The appointment of Sandro Tiziani follows the hires announced last year of former GAM and Bellevue executive Christopher Hoenig in Frankfurt (January 2025) and Alvaro Carbon in Madrid (also formerly GAM), in September.