Press releases

Banque Heritage completes its service offering for funds

Banque Heritage launches Fund Representative and Fund Distribution Advisory services to complement its Paying Agent services.

As one of the largest wealth management centres in the world, Switzerland is a highly attractive market for fund managers. Yet, access to Swiss investors requires to adhere to local regulations, even more so with the new Financial Services Act (“FinSA”) and the revision of the Collective Investment Scheme Act (“CISA”) which govern the rules on fund distribution in Switzerland.

Banque Heritage has now obtained from FINMA a licence of foreign fund representative for funds aimed at qualified investors, which naturally complements fund paying agent services offered by the Bank since 2014.

Banque Heritage can now act both as Swiss fund representative and paying agent for foreign funds, allowing their distribution to high-net-worth individuals (HNWIs) in Switzerland through one point of contact and a combined fund representative and paying agent agreement.

In addition, Banque Heritage’s dedicated team of experts on Swiss fund distribution regulations will offer advisory services to fund managers who look for support in complying with fund promotion rules when distributing their funds to Professional and Institutional clients in Switzerland.

Antoine Royer, Head of Fund Representation Services: “Fund managers care about being fully compliant with Swiss rules but must deal with complex regulations and a continuously evolving regulatory environment. By providing fund managers with an “all-in-one” solution to access the largest possible basis of Swiss-based qualified investors*, including HNWIs, we are helping them save resources so they can focus on the management of their funds”.

For decades Banque Heritage has been directly involved in the fund business. Thanks to its knowledge of the Swiss financial market and the expert team led by Antoine Royer, it can now offer a full array of services helping fund managers to do business in Switzerland while respecting their FinSA and CISA obligations.

Jean-Christophe Rochat, ExCo Member & CIO: “Since the 1990’s, the Bank has developed a strong expertise in the fund industry, through the creation of onshore and offshore funds, the management of hedge funds and long-only funds, and through the development of a Paying Agent activity since 2014. Banque Heritage is already recognized as a key player in the fund industry, and the launch of this fund representative activity naturally complements our expertise and the bank's ambition to be a central player in the Swiss financial industry.”

Antoine Royer elaborates: “From FINSA client segmentation to FinSA Code of conduct rules, affiliation with a Swiss Ombudsman or registration in a Client Advisor register, we can assist fund managers along the way in all aspects, becoming the fund managers’ main point of contact in Switzerland for regulatory and fund marketing aspects. On top of that, our team has access to vast resources and expertise a Swiss bank can provide to ensure the best quality of service to our clients”.

The team is composed of senior individuals with deep knowledge of fund regulations in Switzerland and large experience in the fund industry gained through their careers in this field.

Antoine Royer has almost 20 years of fund industry, asset management, and private banking experience. Prior joining Banque Heritage, he oversaw Fund Representation Services operations for the Geneva branch of Acolin Fund Services. Before that he was an Analyst in the Hedge Funds Department at Mirabaud & Cie and an Analyst and Investor Specialist at JP Morgan Suisse. Antoine holds a master’s degree in International Law from the Geneva Graduate Institute of International and Development Studies.

Marlène Valentin has a long-standing career of more than 20 years in the investment fund industry and has solid experience in fund distribution, administration, and operations. Prior to joining the Bank, she served for 10 years as Head of Fund Distribution and Administration at Mirabaud Asset Management (Suisse) SA and acted as Conducting Officer for a fund management company located in Luxembourg. Marlène holds a Master’s in Business Administration from the University of Liege, is a Chartered European Financial Analyst, as well as Swiss and International Fund Officer.

* Banque Heritage services are not aimed at funds targeting Private Clients (retail investors), which must be registered directly with FINMA


January 17, 2022

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