Zurich-based wealth manager Bellecapital has decided to expand its business to London, agreeing to buy an institute which due to its long history belongs to the legendary names of the City.

Bellecapital has agreed to buy Williams de Broë Private Investment from Investec, a South African company, the wealth manager said in a statement today.

With the acquisition, Bellecapital is adding a third business to the two existing on Zurich's Bellevue square and the international branch registered with the U.S. Securities and Exchange Commission.

Williams de Broë is a legendary address in London and dates back to the two partners Gerald Williams and Conrad de Broë in 1889. The foundation of the company goes even further back to the year 1869.

Changing Ownership

Williams de Broë (WDB) brokerage changed ownership a number of times in the past 30 years. It belonged to Brussels Lambert (BBL) and later to ING, which acquired BBL.

Later, the U.K.'s Evolution Group acquired WDB, merging it with other wealth managers before selling the group to Investec in 2012.

With the acquisition of WDB, a team of three that was originally formed at Prudential-Bache joins Bellecapital: Jason Sharp, Henry Simpson and Steve Holmes. The three have worked together for more than 15 years and advises professional investors and very rich people alike.

Milestone for Bellecapital

«The acquisition of this team brings outstanding talent and clients to the table,» said Mark Eberle, co-founder of Bellecapital. «Importantly, they add an advisory arm to our discretionary asset management business, especially important to global clients who require interaction with market professionals.»

«This serves as further milestone in Bellecapital‘s expansion,» said David Haythe, a board member at Bellecapital. «Our Swiss entity allows us to pursue business in Switzerland, our SEC registered entity allows us to market our services in the U.S. and now, with our FCA registered entity in London, we are able to pursue opportunities in the U.K. and on a pan-European basis.»

The U.K. business is based at Berkeley Square 42 in London.