28.06.2012 | Symbiotics to become regulated fund manager, with reinforced organization
Symbiotics filed for a fund management license in Switzerland in the end of June 2012. This decision came as a continuum of the company's growing business, from a small buy side research boutique to a larger asset manager, one of the leaders in its niche. New developments in the investment fund regulatory frameworks in both Switzerland and the European Union have also reinforced the rationale for this corporate development.
Shareholders of the company met on June 18th to formally modify the status of the company to this end, including asset management at the core of the company's activities and widening the investment universe to include emerging, sustainable and social investments in a broader sense, still with a specific focus on small enterprise development. The group's affiliates in Geneva (Symbiotics Research & Advisory S.A., Symbiotics Asset Management S.A. and Symbiotics Brokerage & Structuring S.A.) were also merged into a single legal entity, whose name was modified from "Symbiotics S.A. Information, Consulting & Services" to "Symbiotics S.A.". All activities, duties and obligations of the affiliated companies, or their mother company, pertain today to the succession company, Symbiotics S.A., and all affiliates abroad in Mexico, Singapore and South Africa remain unchanged.
The company is now organized in three profit centers or business units: Research & Advisory, Asset Management and Investor Relations, and two back office units: Corporate Services as well as the newly constituted Risk & Compliance unit. Yvan Renaud, with the firm since 2006 and previously head of operations, has been appointed director of the Risk & Compliance unit.
Roland Dominicé, CEO, comments: "We're very pleased to transform into a regulated entity, which will reinforce the solidity and credibility of our firm, moreover in a changing financial industry, for the benefit all of our stakeholders: our clients, partners, staff and shareholders. It will also enable us to deploy the strategic goals which we've set for ourselves in the coming years." The transformation process is expected to take 6 to 12 months.
For more information:
Claire Dorey, Communication Officer
Tel. +41 22 338 15 40