Global financial services provider Apex Group (Apex) is set to acquire ARM Swiss Representatives SA (ASR), an independent FINMA-regulated firm providing Swiss representation and distribution services to foreign fund managers.

The transaction is subject to FINMA approval which expected in Q3 2021, and the financial terms are not disclosed

The deal strengthens the group’s local presence in Switzerland, supplementing its existing capabilities to serve clients in the wider European market. Apex believes it will provide clients with enhanced regulatory compliance and distribution services and assistance when accessing the Swiss market.

Founded in 2014, ASR provides compliance and regulatory services to over 630 funds and 350 fund managers internationally, seeking to market their funds in Switzerland in full compliance with local laws. In addition, ASR acts as the distributor in Switzerland for approximately 12 fund managers operating across a diverse range of investment strategies.

By joining the Apex Group, ASR’s client base will benefit from access to the group’s single-source solution which includes locally delivered services across depositary, custody, digital banking, ManCo, fund administration, middle office, corporate services and an ESG Ratings and Advisory solution.

Peter Hughes, founder and chief executive officer of Apex Group said: “The acquisition of ASR builds on our industry leading role as one of the first super ManCos to offer distribution services in Europe. We look forward to welcoming the team whose extensive knowledge of the Swiss market and regulatory landscape offers a highly attractive and complementary addition to our offering and further strengthens our compelling client proposition.”

Anne Empain, co-founder and chief executive officer, and Greg Taylor, co-founder and head of distribution at ASR added: “We are delighted to be joining the global Apex Group, which will enable us to access a wider audience of foreign managers and promoters seeking to market their funds and financial services to Swiss investors. Apex has made notable strides in developing its distribution and capital introduction services for European investors, and we look forward to bringing these to Switzerland.”