The two firms are joining forces to enable efficiencies and new growth opportunities in the expanded network.
Singapore-based independent wealth managers Eightstone and Oclaner Asset Management have completed a merger of equals, forming Eightstone Oclaner in an all-stock transaction, the firm announced in a press release on Wednesday.
The two companies have a combined 15-year track record and S$1.5 billion ($1.1 billion) in assets under supervision, and will continue to serve institutional families, institutional investors and high-net-worth individuals, the announcement said.
«Our companies are similar in their business model and client base, yet have multiple areas of synergies that go beyond economies of scale. Combining our skills translates into greater intellectual firepower and greater diversity of skills,» Oclaner founder Ivo Bartoletti said about the merger.
Leadership
The new firm, which holds a capital markets license for fund management issued by the Monetary Authority of Singapore, will be led by CEO Cyril Malapert, co-founder of Eightstone, while Balotelli will become vice-chairman of the board of directors.
The firm's investment team will be led by co-chief investment officers Sylvain Baude and Oliver Destandau.
