Heritage Bank & Trust, a Geneva-based private bank, has launched a number of funds through its recently acquired asset manager, Global Fund ...

Heritage Bank & Trust, a Geneva-based private bank, has launched a number of funds through its recently acquired asset manager, Global Fund Management, according to a report in Le Temps. Global Fund Management has been re-branded Heritage Fund Management and has since launched three funds for high net worth investors. Heritage was originally set up in 1986 to manage the fortune of the Esteve family, who made their fortune in the Spanish stockbroker business. The firm obtained a banking license in December 2003. It is still controlled by the Esteve family, who control around 78 per cent of the bank, but the family’s fortune comprises only a small amount of the SFr3 billion ($2.2 billion) of assets under management, according to Jacques Mechelany, assistant general manager of the bank, who was quoted in Le Temps.