Unigestion to Shift Equities to JV, Move Staff to Kepler Offices

(Bloomberg) — The Swiss asset manager Unigestion is splitting off its Equities unit and plans to move it into a company jointly owned with Kepler Cheuvreux.

The Geneva-based firm will transfer more than €3 billion ($3.1 billion) in assets under management as part of the agreement, the firms said in a statement on Friday. The assets are going to Kepler in a first step, a representative for the firm said.

The staff employed by Unigestion in its Equities business in Geneva will be moved into the Kepler office in Nyon, Switzerland, and the unit’s UK employees will work from Kepler’s offices in London, the representative said. 

The ultimate goal is to create a new jointly-owned entity to be called Kepler Cheuvreux Unigestion Equities, according to the statement. That’s expected to happen by the end of this year, the representative said. 

Unigestion had $15 billion in assets under management at the end of last year. It currently has 162 employees in 10 offices in Europe, North America and Asia, according to its website.

The Equities business employs 23, according to the Kepler representative. 

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