Heritage Bank & Trust is looking to double assets under management over the next five years, according to Le Temps. Growth at the Spanish...

Heritage Bank & Trust is looking to double assets under management over the next five years, according to Le Temps. Growth at the Spanish Esteve family-owned bank has already been impressive. It currently has SFr3.5 billion of client assets under management, up from SFr1.2 billion five years ago. Heritage opened an office in Switzerland in 1986 and received a banking licence in December 2003. It has 92 employees. Around 60 per cent of the bank’s client assets are in traditional investments, 30 per cent in alternative investments, which are managed by about 50 external managers, and 10 per cent are syndicated in private equity. Heritage has recently moved its head office in Geneva to a 5,200-square metre former cigarette factory to accommodate future growth.