Allfunds sets up Zurich office
Allfunds Group, the fund platform aimed at institutional clients, has picked Zurich as the location for its Swiss market office, intended to support long term expansion plans in the local market.
The office will represent a wholly owned affiliate – Allfunds International Switzerland Ltd – which has been awarded a distributor licence by the Swiss Financial Market Supervisory Authority, FINMA.
Stig Harby, Allfunds’ Swiss country head will lead the office. He joined Allfunds three years ago, and brings experience from previous roles in Switzerland with UBS, Credit Suisse and State Street.
Harby is supported by Matthias Ritz and Barbara Anger, both of whom have previously been involved in building fund platform and asset management businesses in Switzerland.
Created in 2000 by Santander and Intesa Sanpaolo, Allfunds Group claims some €100bn of assets under intermediation, with about 35,000 funds from 450 managers on the platform.
Juan Alcaraz, Allfunds’ CEO said: “Being close to our clients is part of our DNA and our commitment to the Swiss Market is now stronger thanks to the opening of our Swiss office. After completing the first milestone with the endorsement of the distribution license, we are now ready to provide our valuable institutional services to local financial institutions. For us, being local is key serving such an important market.”
“There is clearly room to expand our business here. So far, we have seen great acceptance for our services across Swiss institutional clients given our ability to meet their needs.”