The Swiss bank hires from rivals to start impact investment asset division, with acquisitions to come.
Swiss private bank Reyl Group has launched a new asset management division to focus exclusively on impact investing. The decision follows a trail of client interest in the space and stiff competition between private banks to offer highly tailored ESG approaches.
Reyl announced the launch of the new division, called Asteria Investment Managers, ahead of this week’s “Building Bridges Summit” held in Geneva as part of the country's sustainable finance week. The event, sponsored by Reyl, draws in figures from the UN, government, finance and business. It is aimed at elevating green finance as a national priority, with Swiss President Ueli Maurer addressing delegates during the week.
UBS, Julius Baer, Lombard Odier, and Credit Suisse are among a raft of Swiss-grown wealth managers jostling for market and mind share in ESG investment as the sector explodes.
Asteria will offer institutional investors a full range of impact products and strategies that allocate capital towards transitioning into a more sustainable and equal society, the Geneva-based group said.
The new team will include Guido Bolliger as head of investments; Natacha Guerdat as head of research; and microfinance specialist Fabio Sofia as head of fixed income and private debt strategies. Francesco Genovese, is moving within Reyl to head sales and overall commercial development. The four will report to Reyl CEO Katia Coudray.