2013-02-05 13:32:43 - Vistra, a leading global provider of trust, fiduciary, corporate and fund services, announced today that it has acquired Althea, a privately owned trust and corporate services provider in Geneva.
At the same time, the company confirmed it has purchased all of the remaining shares in Centrapriv Group, the Zurich based fiduciary and corporate consultancy company in which it previously owned 50%. Vistra now employs over 60 staff across its Geneva, Zurich and Zug offices.
Welcoming the staff and clients of Althea into the Vistra Group, Walter Stresemann, Managing Director of Vistra Geneva said, “Switzerland is a key location for our Group - we see the jurisdiction continuing to be an important wealth management centre, benefiting from asset inflows originating in high-growth regions. This latest acquisition adds a skilled and experienced team of professionals with a valued client base to Vistra. By bringing Althea and Centrapriv fully into the Vistra Group,
we will be able to offer their clients a broader range of services through our worldwide network.”
Fabrizio Patanè, Managing Director of Althea said, “We have operated in Geneva for three years, providing international clients with trust and corporate solutions. We are delighted to be joining the Vistra Group, as the synergies and opportunities for growth in both our businesses are clear. Our combined skills and knowledge further enhances the services offered to clients.” Mr Patanè will join Vistra Switzerland’s Board as an Executive Director.
Vistra acquired an initial 50% share capital of Centrapriv Group in 2010, with Centrapriv continuing to operate under its own name. In December 2012, the remaining share capital was purchased and, during the first quarter of this year, Centrapriv Zurich AG and Centrapriv Zug AG will be rebranded under the name of Vistra Zurich AG and Vistra Zug AG respectively.
Marcel Scherrer, Managing Director of Centrapriv in Zurich said: “Centrapriv Group has operated since 1977, providing high quality management services to an international client base. The whole team will continue to provide the same unparalleled level of service, further strengthened by the international reach and expertise of the Vistra Group.”
Vistra Group provides a full range of tailored trust, fund, corporate and estate planning solutions to corporate and private clients. Through its sister company, Offshore Incorporations Limited (OIL), it offers company formation services across a wide range of premier onshore and offshore jurisdictions.
Vistra recently announced the integration and rebranding of Corporate Services Belgium CVBA after its acquisition in October 2012, as well as the opening of offices in Barcelona and Madrid. Vistra now operates out of 27 offices covering 20 jurisdictions.