The Barcelona woman Talent It’s getting older. The securities agency recently converted into a manager has recovered thanks to this movement the autonomy over their sicav, which to date were managed by Swiss credit. In total, something more than 75 million euros that suppose for the Swiss another pinch in their accounts of Spain, although they will continue collaborating.
Talenta Management, led by Jordi Jofre and Carlos Cabanas, in April became the first manager of collective investment institutions (SGIIC) to see the light in 2021. Founded in 2009 and with assets under the advice and management of 780 million eurosAccording to its own data from last year, it is aimed at private banking clients in the Levant and the Balearic Islands.
To date, its 13 sicavs were not ‘owned’. As happens to many investment firms that do not have their own management company, it had to ‘rent’ the umbrella from a third party. That is, Credit Suisse Gestión, who was responsible for its administration and management in bureaucratic, legal and operational terms, although Talenta was mandated to sub-manage the investments.
Now, having a manager, a good part of them (a dozen) has already been transferred, in the absence of completing the importation of the other three remaining. All of them are medium in size, being the largest Drive Investments, with more than 11 million, and Micron Investments, above nine million.
On the sidelines is Platino Financiera, the Asensio family sicav (Grupo Zeta, Prensa Ibérica), which although it has more than 100 million euros, is administered by UBS with mandates to Talenta, Abante and JPMorgan.
Salidas in Credit Suisse
As Invertia has learned from industry sources, Talenta has not completely broken with the Swiss bank. In fact, it has delegated part of the administrative tasks to Credit Suisse Gestión, while Credit Suisse AG Sucursal en España continues to be the custodian of the same.
But this represents a loss of income for Credit Suisse by disengaging from the main – and more expensive – activity on these sicavs, which now falls to Talenta. And it does not come at all well at a time when his local business is in question after having been the protagonist of numerous resignations and departures of bankers throughout the summer.
As this newspaper has been reporting, eight private bankers and asset managers have left Credit Suisse to set up their own investment firm, Welcome Asset Management, with Ignacio Laviña and Javier Alonso at the helm. For his part, Ignacio Llano has signed on as head of the new real estate segment for the great fortunes in Spain that JPMorgan has set up.
Carlos Núñez also went as a private banker to Banca March, where Miguel Matossian (Credit Suisse’s historic head of private banking in Spain) has been an adviser since the spring.
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Reference-www.elespanol.com