Two Genevan wealth managers have merged, creating a new independent group managing around CHF 4 billion (£3.2 billion) with 200 employees.

PLEION and PROBUS have filed a request for authorisation to proceed with their merger. Patrick Héritier, currently the chief executive of PLEION, will take over the management of the new entity in Switzerland, subject to regulator approval.

The founders of the respective businesses, Antoine Darioli (PLEION) and Georges de Preux (PROBUS), have been in contact since 2018, but said via statement that they “immediately discovered common values”.

Both companies have built ...