VZ Holding AG / Key word(s): Investment
18-May-2021 / 06:45 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
Source: VZ Holding AG / SIX: VZN / ISIN: CH0528751586
VZ Group acquires stake in London-based financial advisory firm
Zug, 18 May 2021 - VZ Holding Ltd acquires a stake in an independent British advisory firm in London, which also specialises in financial advice and asset management. This marks VZ Group's entry into the UK market as announced.
Lumin Wealth is an Independent Financial Advisor (IFA). Like VZ Group, Lumin offers fee-based independent advice. The company was founded in 2010, employs around 40 experts and primarily operates in the North London area. VZ Holding Ltd is taking a 50.1 percent stake in Lumin Group Ltd with the aim of acquiring the remaining shares in five years. Lumin's management is committed to develop the company further together with their new partners.
For the time being, this participation will not have a significant impact on VZ Group's revenues and profit. CEO Matthias Reinhart sees the partnership as an ideal springboard to enter the British market: «We have come to know Lumin as a competent and trustworthy provider who, like us, focuses on transparency and professionalism. I am convinced that all stakeholders will benefit from this cooperation.»
«We couldn't ask for a better partner than VZ Group,» says Martin Cotter, one of Lumin's two managing directors. «Their track record is impressive, and their long-term focus combined with their financial strength are a great opportunity for us. Together we can serve our clients even better and also bring additional IFAs on board.»
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VZ is an independent Swiss financial service company, and VZ Holding Ltd's shares are listed on the SIX Swiss Exchange. Asset management, pension and estate planning for individuals as well as insurance and pension fund management for companies are VZ Group's core services. VZ Holding is headquartered in Zug, and VZ has 34 branch offices throughout Switzerland and Germany.
This press release contains forward-looking statements that involve known and unknown risks, uncertainties or other factors that may cause the actual results to be materially different from any future results, performance, or achievements expressed or implied by such statements. Against the background of these uncertainties, readers should not rely on such forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
File: Press release
End of ad hoc announcement