Platinum Wealth Management AG opens in Switzerland

Mon, 15/12/2003 - 08:01

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Platinum Wealth Management has opened a new office in Switzerland headed by Guna Mahalingam.

Mahalingam will run Platinum Wealth Management (PWM) AG in Zurich and has also been appointed Head of International Retail Sales for the Platinum Group.

Mahalingam joins from Obol Investment (Lugano) where he was Business Development Manager and Partner. Prior to that, he was, from January 2001 through September 2002, the Head of International Sales of Skandia Leben AG, Zurich

PWM AG is part of the Platinum Group of companies. The Group develops and distributes structured products on funds of hedge funds, offers private wealth management services and acts as an international partner to international hedge fund managers.

In October 2003, PWM launched the first savings scheme giving qualified investors access to a fund-of-hedge funds portfolio. Early reports suggest a strong positive response to this product, where minimum investment is as low as £150 a month, and business is already being written.

PWM stated it "is now working to bring approved versions of this savings plan structure onshore in Europe and these developments are key drivers behind the opening of PWM AG in Zurich".