CapDyn closes Zurich, expands London office

The firm is moving four investment professionals to its growing London location, which it says will be its ‘primary European investment management hub’.

Capital Dynamics is closing its two-year-old Zurich office, moving the four investment managers from that location to its expanding London office, Private Equity International has learned. It will move the office’s remaining 19 professionals – who are mostly focused on back office activities like legal and accounting – to its headquarters in Zug, Switzerland.

The four investment managers moving to London focus on the firm’s secondary and co-investment businesses. The firm declined to name the four professionals, and the web site does not make clear which employees are in which offices. 

Capital Dynamics opened the Zurich office in 2010 in the city’s Swiss Exchange building in the heart of the financial district. The firm cited several reasons for the new location at the time, saying it would be “attractively positioned to foster new business within its home market”, be “in closer proximity to many of the nation’s high quality managers” and “better placed to cater to its Swiss clientele”.

It is intended that London will act as the primary European investment management hub for the firm therefore the majority of the firm's European investment professionals will be based in London.

Capital Dynamics

However, the firm has now decided the closure of the Zurich office will allow it “to centralise its Swiss business operations in one site and obtain the benefits of a single Swiss location”, according to an emailed statement to Private Equity International.

London, meanwhile, is becoming a key centre for the firm’s European investment activities, Capital Dynamics said. 

“Capital Dynamic’s long-term business strategy is to strengthen its presence in key private equity centres such as London and be more easily accessible to clients and general partners. In support of that strategy, operations in London have been expanded including the enlargement of the office and enhancement of its facilities. It is intended that London will act as the primary European investment management hub for the firm therefore the majority of the firm’s European investment professionals will be based in London,” the statement said.

The London office has 10 employees, nine of whom are investment managers.

The Zurich closure follows some recent changes to Capital Dynamics’ leadership structure. In July, the firm said it was putting in action a long-standing plan to strengthen its leadership structure and revealed that Thomas Kubr, founding chief executive officer, was moving into an executive chairman role, while Stefan Ammann would become chief executive officer.

Ammann now looks after daily operations, while Kubr focuses on client development and overall strategy. “[Ammann has] been a co-architect of [the firm’s] strategy and is intimately familiar with its operational and financial aspects; therefore, he is best suited to ensure the business continues to run smoothly and efficiently,” Kubr said in a statement at the time.