The Alliance of Swiss Wealth Managers (ASWM) has admitted Targa 5 Advisors and GSK & Partners as members, effective November 1. The association announced the additions on Wednesday.
With the two new members, the alliance now counts 42 firms. Together, they manage more than 155 billion francs and employ over 1,710 people.
Membership is subject to specific criteria. Admission is granted only to firms that manage at least 1 billion francs, conduct the majority of their business in Switzerland, and are not majority-owned by a bank. This structure unites many of the country's largest independent wealth managers.
The alliance has expanded significantly in recent years. When Nicole Curti was elected president in 2022, the association represented 103 billion francs in client assets and 1,120 employees. Curti is a partner at the Geneva-based wealth manager Capital Y.
Targa 5 Advisors is led by founder and CEO Eli Mizrahi. The FINMA-regulated firm manages approximately 1.3 billion francs and specializes in clients from Latin America. Mizrahi aims to increase assets to 3 billion francs within two years.
To support this growth, Targa 5 has continuously expanded its personnel. This year, the firm appointed Louis-Philippe Martel as country head for Mexico and Fernando Reis, previously with Banque Audi (Suisse), as a senior relationship manager. It also appointed two independent members to its board of directors.
GSK & Partners was founded in 2021 by Steve Klemme and George Sarkis, both of whom previously managed Middle Eastern clients in private banking—Klemme at Barclays and Sarkis at JPMorgan. The multi-family office is headquartered on Geneva's Rue du Rhône.
In August 2024, GSK merged with the Geneva-based wealth manager Swiss Financial House, retaining the GSK name. Klemme leads the company as CEO, and Sarkis serves as managing partner.
The two new members strengthen the weight of the French-speaking region within the alliance. Seventeen members are now based in western Switzerland, 21 in German-speaking Switzerland, and four in Ticino.
Bringing together leading firms from all three language regions creates an increasingly strong platform for the exchange of know-how, said Curti. Beyond peer-to-peer exchange, the alliance engages in dialogue with regulators and banks. At its gala in March, members evaluated their custodian banks, with Pictet, UBS, and Julius Bär among the winners.
