Multi family office Fleming Family & Partners has acquired wealth management firm Gebhard, Corrodi and Partners, in a move by the London-based investment office to expand its Swiss business.
In a statement on 4 July, FF&P said that it has bought Zurich-based GCP, which has assets under management of around £750 million (€831 million). The cost of the acquisition wasn’t disclosed - GCP’s seven employees, including directors Urs Gebhard and Christoph Corrodi, will join Fleming’s office in Zurich.
The acquisition comes as FF&P looks to expand outside the UK to increase its client base. A spokesman for FF&P told Campden: “The acquisition adds scale and staff to our Swiss business rather than adding services to what we offer clients in Switzerland. It’s a major step forward for the international development of our business and it broadens our expertise and resources in Switzerland.”
The purchase comes following FF&P’s recent partnership with fellow wealth management practice Asquith & Partners. The deal, finalised in March this year, was done to build on FF&P’s advisory and financial planning team.
FF&P was established in 2000 by the Fleming family after the sale of Robert Fleming & Co, in which the family was the largest shareholder. The family office has assets under management of around £4 billion and its current chairman is Adam Fleming.