In a significant move that signals the evolving landscape of wealth management in Switzerland, Novum Capital Partners, a Geneva-based asset management firm, has launched a new office in Zurich. This strategic expansion aims to capitalize on the burgeoning market for independent multi-family office (MFO) services, particularly among entrepreneurial families in the German-speaking regions of Switzerland. Established in 2018 and recently recognized by Euromoney as the “Best Wealth Manager Switzerland,” Novum Capital is keen on redefining wealth management paradigms at one of Europe’s key financial hubs.
The Zurich office began operations in early June and is currently staffed by three professionals, including Sebastian Jeck, a former banker at UBS who has been appointed to lead this new outpost. His strategic vision underscores the increasing demand for personalized and independent wealth management services in this dynamic region of Switzerland, which boasts a high concentration of international and entrepreneurial families. Jeck remarked, “Our expansion is a strategic response to the growing need for bespoke multi-family office services, tailored specifically for families in this area.”
Novum Capital Partners was co-founded by Gabriele Gallotti, a former private banker at J.P. Morgan, who brings considerable expertise to the firm. Under Gallotti’s leadership, Novum has grown it from its inception to manage assets exceeding 5 billion Swiss francs today. Positioned as a truly independent provider, Novum eschews practices such as retrocessions, product distributions, and proprietary products. Instead, the firm operates under a management fee structure, prioritizing transparent, client-focused service.
“As a client-centric multi-family office, our goal is to provide one-on-one attention with customized solutions that go well beyond standard products,” Jeck explained. The firm prides itself on offering exclusive access to institutional co-investments and leveraging a global expertise in areas like tax structuring, succession planning, and alternative investments, ensuring that its clients receive comprehensive, high-quality portfolio management.
Novum Capital is among a select few MFOs in Switzerland to possess a license from the Swiss Financial Market Supervisory Authority, known as FINMA, enabling it to conduct domestic business. Additionally, the firm operates a fully-owned subsidiary, Envisage, which is registered with the Securities and Exchange Commission (SEC) in the United States. This dual structure not only enhances regulatory compliance but also broadens Novum’s outreach to U.S.-based clients, positioning the firm for global service delivery.
Meanwhile, the firm’s focus remains primarily on organic growth. When queried about potential acquisitions to expedite growth in Zurich, Jeck responded cautiously, emphasizing the importance of cultural alignment in any potential integration. “We believe in quality growth with advisors who share our values. An acquisition would only be considered if it fits culturally and qualitatively. Many firms operate under different business models and, therefore, do not align with our ethos,” he noted.
Looking ahead, Jeck is optimistic about the long-term opportunities that lie in the Zurich metropolitan area and the broader German-speaking regions of Switzerland. He points out that a significant number of entrepreneurial families are in search of genuine alternatives to traditional banking frameworks. “With our specialized approach, we are ideally positioned to provide sustainable solutions for intergenerational wealth preservation,” Jeck asserts.
This shift towards independent wealth management firms such as Novum Capital reflects broader trends in the global financial services landscape, where clients increasingly favor personalized, transparent, and conflict-free advisory services. Such firms are gaining traction amid a growing demand for tailored wealth strategies that cater to the unique financial needs of sophisticated families and individuals.
The emergence of independent MFOs is particularly timely. As economic conditions evolve and generational wealth continues to shift, family offices are stepping up their roles in asset management. High-net-worth families are seeking robust advisory capabilities that can address not only investment performance but also family dynamics, succession planning, and philanthropic aspirations.
The strategic aims of Novum Capital Partners, emphasizing a personalized service model and independence from traditional financial institutions, resonate deeply with clients who value bespoke solutions over off-the-shelf products. This approach aligns with the increasing desire among wealthy families to take control over their financial destinies and engage directly with advisors who understand their unique circumstances and objectives.
As Novum Capital Partners embarks on this new chapter in Zurich, the firm’s commitment to integrity and client-centricity serves as a microcosm of the evolving wealth management industry. A landscape previously dominated by large banks is now making room for agile, independent firms that can adapt quickly to the shifting needs and preferences of wealthy clients. Whether through personalized investment strategies or comprehensive estate planning, MFOs like Novum are poised to make a lasting impact on Switzerland’s wealth management fabric, one which could inspire similar trends in other global financial centers.
By positioning itself strategically within Zurich’s vibrant financial ecosystem, Novum Capital is not just responding to current demands but is also anticipating future shifts that may redefine how wealth management services are delivered and experienced. As the firm deepens its roots in this key financial market, it is likely to play a crucial role in shaping the discourse around wealth management in Switzerland, leveraging its independence and personalized approach to foster enduring relationships with clients.