A former veteran of Citi Global Wealth Management, Milan S Morjaria, has left the US banking giant's Swiss office to launch MSM Investment Advisors, which is a multi-family office based in Geneva, this publication has learned.

Morjaria’s most recent role at Citi Global Wealth Management was that of managing director for Citibank (Switzerland), focusing on its ultra high net worth and family office client franchise in Europe. He worked at Citi GWM for 22 years.

The genesis of MSM Investment Advisors has been several years in the making, Mr Morjaria said, but recent events in the financial world accelerated his decision to set up an independent platform for global wealthy families.

"Recent events that shook the financial services industry coupled with increasingly challenging and intrusive regulatory changes convinced him that global wealthy families needed to fundamentally change their approach towards managing their wealth,” a statement to the press said.

MSM Investment Advisors states its primary goal as "providing the strategic framework and platform to manage wealth for the next generation in a simplified, transparent and cost effective manner".

MSM will officially launch its service in June 2010, focusing on families from the Middle East and Asia Pacific regions.