Corazon Capital, the Guernsey-based investment manager formerly known as Dawnay Day Milroy, has launched a business operation in Geneva to provide discretionary portfolio management in Switzerland.

The firm was renamed Corazon following a management buyout at the Dawnay Day Milroy business after that firm decided to drop any connections to the troubled UK-based Dawnay Day business.

The Geneva office will be headed by Barrie Duerden, a director of Corazon Capital. Mr Duerden joined Corazon Capital in May this year.  His investment career started in 1987 with Credit Suisse.  In 1996, he helped to establish the LCF Rothschild Group presence in Guernsey, where he was managing director for the last four years.

“This is an opportune time for Corazon Capital to establish a base in Geneva. The company is completely independent and therefore free from the potential conflicts of interest that often beset asset management firms so is able to focus purely on generating highly attractive risk adjusted investment returns,” Mr Duerden said.

Corazon Capital has $1.2 billion of assets under management.