The Swiss wealth management firm Helvetia Wealth today has bought a “strategic stake” in Dahl & Partner Vermögensverwaltung, the former media group Axel Springer family office in Hamburg, it said today.

Helvetia Wealth purchased the shares from Germany's Donner & Reuschel Privatbank (Signal Iduna Group) for an undisclosed sum, it said in a statement.

Dahl & Partner Vermögensverwaltung, which has offices in Hamburg and Berlin, has been operating on the German market for 15 years, focusing on asset management for private and institutional investors. Sascha Viets, the company´s chief executive since 2006, will continue to lead Dahl & Partner and grow the business through the newly created synergies, it said.

"It is an important step for Helvetia Wealth to enter the German onshore market and increase our offer of investment products and financial services," said Helvetia chairman Ottmar Ruoff, who is also the chairman of Dahl & Partner supervisory board.

As a result of the latest investment, the value of Helvetia Wealth's assets currently under management rises to SFr1.1 billion, just five years after the company was founded.

In December last year, Helvetia Wealth bought Glasgow-based City Gate Money Managers along with a controlling stake in London-based TAM Asset Management, adding 25 staff to its payroll, saying it regarded the UK as a key market.