From Matthias Knab, currently in Geneva, Switzerland: Fairfield Greenwich Group Merges with Banque Bénédict Hentsch
Global hedge fund specialist Fairfield Greenwich and Swiss private bank Bénédict Hentsch to provide alternative investment products and wealth management services
Combined Assets Under Management to exceed US $18 billion
Fairfield Greenwich Group ("Fairfield Greenwich"), a global alternative asset management specialist, and Banque Bénédict Hentsch ("BBH"), a Geneva-based Swiss private bank, today announced that both entities have joined forces. The combination will allow BBH clients to gain access to Fairfield Greenwich's broad platform of single manager hedge funds, funds of hedge funds, real estate funds and customized portfolios of hedge funds, while Fairfield Greenwich clients may now access BBH's broad suite of wealth management services. Together, the companies have in excess of US $18 billion in assets under management.
The combined firms will join the alternative asset product development and investment management capabilities of Fairfield Greenwich with the private banking distribution capabilities of BBH, a bank which has had an alternative asset focus since its inception. Both Fairfield Greenwich and BBH are known for their independent management and operations, and for their high levels of personalized, "boutique" client service. Through the transaction, Fairfield Greenwich gains new clients and assets, and BBH gains added products and infrastructure support; the immediate shared objective will be to win increasing numbers of private clients for the combined product set, and to accelerate the growth of the private bank through the addition of sales and marketing resources and personnel.
Andres Piedrahita, Fairfield Greenwich Founding Partner, said: "We are very pleased to announce that Fairfield Greenwich Group and Banque Bénédict Hentsch have merged. Bénédict Hentsch and his team have an extraordinary reputation within the Swiss private banking industry, and we will work together to deliver elite, complementary alternative and wealth management solutions to our combined client bases. For seven generations, the Hentsch name has stood for quality, privacy, and personal service in Swiss private banking. For over 25 years, Fairfield Greenwich has meant transparency and trust in alternative asset management. We believe that our two corporate cultures truly support each other, and that our respective traditions will successfully combine to create an even more expert organization fully dedicated to global wealth management."
Walter Noel, Fairfield Greenwich Founding Partner, noted: "Since the inception of our firm, we have worked closely with some of the top Swiss private banks. As Fairfield Greenwich has grown, and as the hedge fund industry has matured, we have evolved toward a more comprehensive view of alternative investments, asset management, and banking as interrelated disciplines. Recently, we have added a number of key senior professionals from the world of banking and wealth management to help lead our several lines of business. We believe that our partnership with a firm of BBH's outstanding quality brings us even more directly into the vanguard of global alternatives managers who are finding new and interlocking opportunities through expansion and business development across multiple financial industry sectors."
Bénédict G.F. Hentsch, BBH Founder and Chairman, commented: "Fairfield Greenwich and BBH share a basic philosophy and approach of capital preservation as well as a deep commitment to client service. As we bring together our two firms, we are very confident that many powerful synergies exist for both Fairfield Greenwich and BBH and that the clients and investors of both groups will greatly benefit. Our combined companies will be able to offer both institutional and private investors a wide spectrum of integrated, innovative, tailored products and services, from hedge funds and funds of hedge funds, customized portfolios, and structured products, to estate planning, foreign exchange, securities brokerage, tax and legal, and many other wealth management and private banking services...
Source:
http://www.opalesque.com/AMB2008/46871hedge_fund_Fairfield_Greenwich_with_Geneva.html
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