Following the operation, the management firm has integrated the teams of both companies.
As a result of the merger, the Creand Family Office division has been created to provide a comprehensive and transparent service to customers, and to enhance global wealth advisory services.
Creand Asset Management has completed the merger by absorption of GBS Finanzas Investcapital A.V., the securities firm of GBS Finance specialising in high net worth and family office advisory services, having obtained the authorisations from the relevant supervisory bodies. With the registration of the merger agreement on the Register of Companies, the management firm of Creand Wealth Management will finalise the process, which began back in 2021 when the agreement between the two companies was made public.
Upon completion of the merger, Creand Asset Management has integrated all the assets of GBS Finanzas Investcapital A.V., with a value of EUR 700 million, resulting in total assets of EUR 1.514 billion at the end of May.
Customers from both entities will now enjoy a unique value proposition. The integration has given rise to the creation of Creand’s new Family Office area within the management company. This new division, headed by Santiago Hagerman, aims to promote the comprehensive service approach to customers, in line with their needs and interests, with a transparent and independent model of personalised advice based on open architecture.
Following the merger, Creand Asset Management brings together the teams from both companies, which will continue to prioritise personalisation and customer service, just as they have been doing up to now.
Luis Bilbao, CEO of Creand Asset Management, explained that “the merger with GBS Finanzas Investcapital A.V. enables us to strengthen our family wealth advisory service overall with more specialisation. Customers will continue to enjoy personalised and focused attention to meet their particular needs”.
With the organic growth seen in 2022 and the integration of GBS Finanzas Investcapital A.V., Creand Wealth Management has a business volume of EUR 3.429 billion at year-end 2022. This figure enables the company, which has offices in Madrid, Barcelona and Valencia, to consolidate its position as one of the major players in private banking and wealth management in Spain.
Creand Asset Management is the trade name of Gesalcalá, SGIIC, SAU.
Creand Wealth Management is the trade name of Banco Alcalá, S.A.