Swiss private banks Gonet & Cie and Mourgue d’ Algue & Cie have agreed to combine operations. The deal is subject to regulatory nod.
Gonet Group and Mourgue d’Algue & Cie were set up in 1845 and 1869, respectively. Both the banks offer wealth management services for Swiss and international clients.
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The combined group will manage nearly CHF5bn in assets and will use the Gonet name. The merged entity will be headed by Gonet & Cie CEO Nicolas Gonet.
“This merger with Mourgue d’Algue & Cie, a private banker partnership with long-standing roots in Geneva and respected for its know-how, fits in perfectly with our dynamic of qualitative growth and reflects our desire to be among the most proactive players of the Geneva financial place,” Gonet noted.
Mourgue d’Algue & Cie partners Pierre-Andre and Swana Mourgue d’Algue will join the senior management team of the merged group and continue to tend to their clients.
“We share similar family values with Gonet & Cie SA and cultivate the same demand for independence and the same entrepreneurial spirit. This makes it the ideal partner to combine our missions as well as our products and services to benefit the client base, in the long-term vision that will continue to drive us,” the pair said.
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