A former UBS manager has joined a fledgling wealth management business in Switzerland as a partner and advisor.

Former UBS-man Thomas Egger is joining a fledgling wealth advisory firm in Switzerland as a partner and advisor, this publication can reveal.

The new business venture, called Parkview, provides independent advice to ultra-high net worth entrepreneurial families and clients in Europe, the Middle East, Africa and Latin America. It is headquartered in Zurich with an office in New York and plans to open branches in Geneva and London.

“The wealth management is undergoing fundamental change in Switzerland and I believe there are many opportunities for independent players especially in the entrepreneurial space,” Egger told WealthBriefing. “Our business idea is based on four Fs: firm, family, finance and future.”

This publication could exclusively report yesterday that Egger had left his former employer UBS Wealth Management, where he was a senior advisor supporting regional heads and their teams in Iberia, Latin America and the Caribbean. He is still on gardening leave and will start his new job tomorrow. He was with UBS since 1998, when it merged with Swiss Bank Corporation which he had worked for since the mid-1970s.

Parkview will not do investment management and concentrate on risk and cost management for clients with eight-figure assets.

Egger describes the five partners at the new firm as former colleagues or friends from the industry. Among them is Dr Oussama Himani, formerly head of global emerging market strategy at UBS Investment Bank.