Independent wealth managers in Switzerland often cite succession as a structural weakness, particularly at smaller houses where founders built client relationships over decades. Bellecapital, a Zurich-based firm at Bellevue with about CHF 6 billion in assets and roughly 70 employees, is among the larger independent managers.
Founder partners Beat Bass and Mark Eberle have stepped back from the executive management team and moved to the board. Operational responsibility now rests with Tobias Faes, who became CEO last year, and a newly composed management team.
Faes identified two factors behind the transition. First, the handover was planned over time, with responsibilities transferred gradually so that internal and external partners could adjust. Second, the new roles were respected after the change, with board members not intervening in day-to-day management.
The founders will retain responsibility for their existing client relationships, although the company will separate corporate management from client advice going forward. Bass, who helped build and lead Bellecapital for more than 17 years, will focus more on his client book. Eberle will concentrate on strategic tasks, including the long-term development of the firm and expansion of its UK business, with England expected to become an important growth market in coming years.
Bellecapital has also built structures to organize the transfer of client relationships systematically. Younger advisors are introduced to established relationships over several years, and the firm has deliberately hired junior advisors with limited experience to train in-house as a quasi next-next generation. This approach addresses a common industry issue in which the retirement of a long-standing advisor, rather than a CEO change, can lead to asset outflows.
Ownership remains unchanged. Bellecapital is fully owned by a group of active employees, with the two founders together holding a majority. A sale to a financial investor or larger group was not under discussion. Faes said the new leadership team is aware of the expectations of clients, shareholders and employees, and aims to develop the firm sustainably and profitably while preserving its history and culture.
