Swiss pension scheme acquires private bank
Tellco Pension Ltd., part of the Tellco Group, acquired Dominick Company Ltd. As a combined entity, they will become the first pensions bank in Switzerland. This is a demonstration of Tellco’s ongoing pursuit of growth.
Tellco Pension Ltd. has acquired 100% of the shares in Dominick Company Ltd. This acquisition expands Tellco’s product offering for private and institutional clients and establishes Tellco as a comprehensive provider of pension, investment and real-estate services.
By concentrating competencies together, every type of service related to pension planning will be available from a single source. This will strengthen the ability to provide clients with tailor-made solutions. With over 140 employees and over CHF6.5bn of client assets under management, the new organisation will be a strong and reliable provider of services to both institutional and private clients.
The board of directors and executive board of Tellco Pension Ltd. and the executive board of Dominick Company Ltd will remain unchanged.
“The two companies complement each other wonderfully. We are ensuring the highest level of continuity for our clients with this acquisition. Combining our strengths will allow us to meet the existing and future demands of our clients even more fully,” says Philippe Moser, CEO of Tellco Pension Ltd.