The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Turicum Private Bank, a Gibraltar-based privately owned bank and wealth management firm, has taken a significant stake in Hassium Asset Management, a UK-based wealth manager.

The partnership marks Turicum’s first tranche of activity in the UK – part of the firm’s wider ambition to expand its footprint in this market. Both Turicum and Hassium share experience of providing personalised asset management services with tailored investment portfolios. Turicum’s specialism in regulatory compliance, risk management and corporate governance combined with Hassium’s expertise in global financial markets and actively managed investment solutions will provide existing and future clients with additional services, alongside wider international reach.

As part of both firms’ dedication to a personal service, all clients will continue with their investment mandates with no changes to the team running them or their relationship managers, the firm said in a statement. However, this "milestone" will enable all clients to benefit from exposure to a wider range of banking services and investment advice.

“This partnership represents an exciting landmark for Turicum, as our first physical presence in the UK and part of our long-term vision,” Andreas Businger (pictured left), CEO and executive director of Turicum Private Bank, said. “Hassium’s experience and long-standing reputation, with its focus on offering independent, trusted advice based on personal relationships, aligns perfectly with Turicum’s own ethical values.”

“Joining Turicum grants us access to more resources, support and capital, particularly in the areas of compliance, operations and technology from which all our clients will ultimately benefit, and we are excited to embark on this new partnership,” Yogi Dewan (pictured right), CEO and founder of Hassium Asset Management, added.

BDO acted as financial advisor and Archer, Evrard and Sigurdsson as legal advisor to Turicum Private Bank. Farrer & Co provided legal counsel to Hassium Asset Management.

Turicum Private Bank is a family-owned bank and wealth management firm with a Swiss heritage, founded over 30 years ago in Gibraltar by a partnership of Swiss private bankers, lawyers, and asset management professionals.