In an era in which digitalisation seems to be taking hold in the financial sector even in Lugano, the recent partnership between Credinvest Bank e Carthesius, an asset management firm with over a billion in assets under management, requires preliminary consideration.
As with social relationships, financial ones are also favored when the stakeholders are able to identify with their shared initiatives, as Federico Bianchetti and Alex Oberholzer emphasize. Their shared professional experience and maturity, which also allows them to agree on their mutual interpretation of the markets, leads them to announce the partnership between their respective companies as an administrative formality to be simply acknowledged. At the same time, clients will also benefit, as, in addition to accessing a broader range of investment solutions, they will share with Carthesio and Banca Credinvest the goal of even more efficient wealth management.
"This is precisely the concept on which our partnership is based," begins Federico Bianchetti of Carthesio: "Everything that arises from professional synergies between the bank and the professional manager must translate into added value for clients, employees, and above all, the governance of the two structures, which, in our case, remains independent. This is the approach that has made Carthesio stand out not only in Ticino, but also in Switzerland. Carthesio has had the FINMA license to manage listed collective investment funds since 2007, so we are already structured similarly to a bank. Banca Credinvest, the first institutional shareholder to become a Carthesio shareholder, also guides the evolution of our administrative procedures, which we implement by having signed a wealth management service agreement with Banca Credinvest. This is our core business , which over 25 years has produced harmonious growth in terms of employees, clients, and therefore also in terms of assets, which the bank's management services are already coordinating and proposing." jointly proposed to their customers."
"With this agreement," observes Alex Oberholzer, "Banca Credinvest, thanks to Carthesio, is strengthening its client offering and consolidating its operations in institutional activities, which until now occupied two-thirds of our internal expertise and focused on market access and securitization, benefiting both asset managers and third-party banks. Currently, the acquisition of a 19.5% stake in Carthesio allows Banca Credinvest to integrate relationships with the staff of both organizations, develop a constructive dialogue thanks to independent governance, and define strategies that will also benefit the numerous independent fiduciaries we already serve."
What market challenges does this new partnership address?
Alex Oberholzer: "People want to be involved in their investments. Therefore, being able to tap into a new local partner is consistent with our methodology and facilitates, in addition to fostering loyalty, our dialogue with a clientele that the industry giants reserve only for larger assets."
How do you plan to adjust to market fluctuations?
Federico Bianchetti: "We are examining new and innovative proposals to offer our shared clients. These range from securitizations or certificates to be managed synergistically to the promotion of services previously created and managed by large operators but limited to their clients. For example, I'm thinking of private equity or club deals , i.e. investments in unlisted companies or dedicated to specific transactions. These are sophisticated strategies, highly appreciated by Carthesio clients, and in the future also by Banca Credinvest, and we plan to make them available to Ticino professionals who request them, bringing benefits and characterizing our partnership. Regarding market fluctuations, we will continue to prioritize risk reduction over volatility and investment stability over daily profits, with a thoughtful mix of equity, bond, alternative funds, and hedge funds , which until now professionals have only targeted their high-end clients. Because, as always, critical market situations require a professional response."
What are your relationships with other banking institutions?
Alex Oberholzer: "The relationships we already have with banks as partners are confirmed and will remain independent. I don't rule out the possibility that the Banca Credinvest-Carthesio partnership could bring in new independent managers in the future, especially Carthesio: a strategy that Carthesio has already pursued, with considerable success, over the twenty-five years of its activity."
Federico Bianchetti: "Indeed, thanks to a series of agreements with external operators, we were able to not only develop our services but also build customer loyalty, which strengthened the desire for continuity in the relationship they wanted to maintain with their usual operator."
Alex Oberholzer: "I envision two future developments. First, providing compensation to the family members of managers who transfer significant assets to our partnership before ceasing their activities. At the same time, my long-term goal is to continue attracting professionals willing to benefit from the added value that Banca Credinvest—and hence our partnership with Carthesio—can bring to their work and the trust clients place in protecting the growth of their assets."
