Two former Credit Suisse senior private bankers, Remo Maurer and Sandor Pasqualetti, have launched a multi-family office based in Zurich.

Portelet Family Office is part of the Portelet Group, which was founded in 1998 and operates out of Zurich, Mumbai and Singapore. The group’s strategy is to develop comprehensive services for ultra high and high net worth clients in key Asian markets, the Middle East and selected European countries, and the addition of the family office to its existing corporate finance and investment management business lines is intended to further this aim.

It is planned that Portelet Family Office will expand into Singapore and the Middle East by the end of this year, and the firm has already been granted approval by the relevant regulatory bodies. As part of its plans to rapidly grow, the firm is aiming to recruit a total of 10 senior relationship managers for Zurich in 2009.

“The current market conditions offer a unique window of opportunity to grow with seasoned bankers from different institutions. Independent advisors produce evidence of superior client value added every day and are rewarded with a constantly growing market share,” said Mr Pasqualetti.

“The absence of quarterly reporting and budget pressure as well as the possibility to hand pick the most talented advisors enables boutiques to gain sustainable strategic advantage over global powerhouses.” 

Mr Pasqualett is chief executive of Portelet Family Office, while Mr Maurer is chairman of the board.

Mr Maurer joined Portelet in 2007, having previously been director at Credit Suisse Private Banking Zurich. Mr Pasqualetti started at Portelet in 2008, prior to which he was head of business development for Indian Subcontinent, the Middle East, Greece and Turkey, also at Credit Suisse Private Banking Zurich.