Benedicte Gravrand, Opalesque Geneva :
Notz Stucki, an asset management house founded in 1964 and head-quartered in Geneva, is revamping its business model a little as the latest generation comes to the throne.
Beat Notz, Notz Stucki’s founder, died five years ago. Since then four new associates came in to fill the space, and this year Beat’s son, Grégoire Nortz is the latest recruit. According to Swiss daily Le Temps, Grégoire, 40, worked with renowned hedge funders, such as Louis Bacon and Paul Tudor Jones – whom the Notz house knew well personally - before joining the family business in 1997.
This succession coincides with a turn in the wealth manager’s strategy amid the financial crisis, the paper goes on to say. As indeed, it currently manages $6bn, compared to $14bn five years ago.
Notz Stucki had been a pioneer in the hedge fund business, and it launched Haussmann Holdings (a fund of hedge funds arm now with AuM of $1.4bn) in 1974. But seeing that hedge funds did not protect investors’ money in 2008, the manager came back to old practices. Especially since it was also one of Madoff’s victims; the group lost around 2% of its assets when Madoff was found out in late 2008. Appar......................
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