Vistra expands Swiss presence with two new acquisitions
Fiduciary and fund services group Vistra has acquired Althea, a privately owned trust and corporate services provider in Geneva.
The company also confirmed it has purchased all remaining shares in Centrapriv Group, the Zurich-based fiduciary and corporate consultancy company in which it had a 50% stake. Vistra now employs over 60 staff across its Geneva, Zurich and Zug offices.
Walter Stresemann, managing director of Vistra Geneva said, “Switzerland is a key location for our Group – we see the jurisdiction continuing to be an important wealth management centre, benefiting from asset inflows originating in high-growth regions. This latest acquisition adds a skilled and experienced team of professionals with a valued client base to Vistra.”
Fabrizio Patanè, managing director of Althea, will join Vistra Switzerland’s board as an executive director.
Vistra acquired an initial 50% share capital of Centrapriv Group in 2010, with Centrapriv continuing to operate under its own name. In December 2012, the remaining share capital was purchased and, during the first quarter of this year, Centrapriv Zurich AG and Centrapriv Zug AG will be rebranded under the name of Vistra Zurich AG and Vistra Zug AG respectively.
Marcel Scherrer, managing director of Centrapriv in Zurich said the company’s management services will be strengthened by the international reach and expertise of the Vistra Group. Vistra’s sister company, Offshore Incorporations Limited (OIL), offers company formation services across a range of onshore and offshore jurisdictions.
Vistra recently announced the integration and rebranding of Corporate Services Belgium CVBA after its acquisition in October 2012, as well as the opening of offices in Barcelona and Madrid. Vistra now operates out of 27 offices covering 20 jurisdictions.