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Bulgari CEO Buys Stake in Geneva Wealth Manager - Report

Francesco Trapani, chief executive of the Italian luxury goods company Bulgari, has bought a personal stake in Elystone Capital, a Geneva-based wealth advisor, and has become its chairman, according to Financial News.
Elystone was founded in 2002 as LP Partners by Luis Palacios and
Mr Trapani has been a client for five years. He was quoted by the
publication as saying: “I have enjoyed a fantastic service. The
performance of my liquid portfolio was very good, in line with my
objectives of low risk, low volatility, steady returns. I had a
good relationship with Luis and last year we started talking
about my getting involved more closely in the business.”
Mr Palacios, who previously established Morgan Stanley’s wealth
management business in Geneva, remains majority owner of
Elystone. The firm operates as a multi-family office for
individuals with “tens of millions” to invest, said Mr Trapani,
and has particular expertise in hedge fund investment. The
majority of its 10 staff are based in Switzerland with other
offices in London and Bermuda.