Private Banks

Bordier is transforming its structure to help foster its ongoing development and expansion

Bordier & Cie has announced that it is to make a key change to its legal structure, converting from a ‘partnership’ to a ‘partnership limited by shares.’

The legal structure of a partnership limited by shares will make it feasible to drawn on the benefits of being Swiss private bankers, in the traditional meaning of the term, combined with the advantages of a public limited company, the firm said in a press release.

This transformation is particularly innovative and wholly in keeping with the firm’s core philosophy: their clients, clients’ interests and the standard of service remain uppermost and central to the firm’s concerns. The change will mean we retain our status as private bankers with the partners still having unlimited personal liability. This serves as guarantee that the firm’s respective interests are kept in line with each other, it said.

From an accounting perspective, rules and regulations governing public limited companies will apply. This will enable Bordier to enjoy a greater degree of flexibility in what is an increasingly fiercely competitive landscape. Lastly, Bordier Group’s governance will be strengthened by the setting-up of an independent Supervisory Board.

Grégoire Bordier, Partner, Bordier & Cie., said: “While remaining the last Private Bankers in Geneva, this new structure will provide us with much more flexibility when it comes to managing our Group and will duly enhance prospects for our future growth.”