Bellevue Group acquires 10% interest in US Broker Auerbach Grayson
Bellevue Group AG / Bellevue Group acquires 10% interest in US Broker Auerbach Grayson processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
MEDIA RELEASE
Kusnacht, February 12, 2010
Bellevue Group has agreed to purchase for the amount of USD 2.5 Mio a 10%
minority interest in the US Broker Auerbach Grayson & Co in New York. A
designated agreement was now signed by the two houses. Auerbach Grayson is a
specialised Broker in the US for worldwide research together with foreign
partner banks.
Auerbach Grayson & Co (AGCO) was founded in 1993 and is led by co founder
Jonathan Auerbach and David Grayson. Jonathan Auerbach started his wall street
career in 1966 and worked amongst others for UBS and Deutsche Bank. David S.
began his career in the brokerage industry in 1975 and worked amongst others for
Discount Brokerage Corporation and ABN Amro.
Auerbach Grayson provides all US clients their specialized research of foreign
shares through approximately 480 analysts in 127 local markets. Auerbach
Grayson focuses on small, medium-cap and emerging market equities.
Bellevue Group has cooperated now for three years with Auerbach Grayson. This
agreement provides Bellevue broad access to the US market without having to
establish its own infrastructure. "We are the only Swiss Bank reaching out to
US investors who are interested in Swiss stocks through the Auerbach Grayson
network" explained Martin Bisang, CEO of Bellevue Group, and adds: "With the
10% interest in Auerbach Grayson we aim to further expand in the US and
reinforce our presence as a broker and asset manager through their network as a
whole."
For further information:
Bellevue Group, Seestrasse 16, CH-8700 Kusnacht
Jürg Schaeppi, CEO Bank am Bellevue, Tel. +41 (44) 267 67 67, js@bellevue.ch
Bellevue Group
The Bellevue Group is an independent Swiss financial group domiciled in
Küsnacht. The parent company Bellevue Group AG is listed on the SIX Swiss
Exchange. Bank am Bellevue is a provider of research and brokerage services in
Swiss equities and selected international stocks as well as corporate finance
services. Bellevue Asset Management manages specialized equity investment
vehicles focused on selected sector and regional strategies and provides
selected institutional asset management services.
[HUG#1384186]
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Bellevue Group AG
Seestrasse 16; Postfach Küsnacht/Zürich Switzerland
WKN: A0LG3Z;ISIN: CH0028422100;
Media Release_Bellevue Group: http://hugin.info/137269/R/1384186/342935.pdf
