Algebris Investments is to open an office in Zurich to offer on-the-ground support to clients across Germany, Austria and Switzerland (DACH), it announced on 7 April.

Johannes Wettstein, who will be appointed CEO of the Zurich office, joined Algebris in May 2021 as Head of the DACH region. 

The independent global asset manager said it was further strengthening the team and has appointed Karolyn Krekic as business development director for the DACH region. Both Wettstein and Krekic will be based in the newly established office in Zurich. 

Wettstein joined Algebris from UBS, and his experience ranges from Ultra High Net Worth (UHNW) and Family Office coverage of German and Austrian clients to M&A advisory. He also worked several years for the UBS Group Chairman, where he was responsible for strategic client relationships and the bank's top shareholders. 

Krekic brings more than 20 years of experience in the Asset Management industry. Prior to joining Algebris, she was managing director at Capital Group, where she was responsible for German financial intermediaries such as banks, funds-of-funds, asset managers, insurance companies and family offices. 

Before that she was responsible for the German market at GAM and Julius Bär Investment Funds Services.
Davide Serra, CEO of Algebris Investments said: "The expansion of Algebris into the DACH region is a key strategic initiative of our group.The opening of the Zurich office and the appointment of Johannes and Karolyn are a clear commitment to the region.

"We intend to strengthen our established relationships in Switzerland, which is one of our key markets and build a strong brand also in Germany and Austria."

Algebris is an independent global asset manager which invests in the financial sector across the capital structure (credit and equity) as well as in macro credit and Italian securities. 

Founded by Serra in 2006, the firm employs over 140 people, manages approximately €17.5bn in client assets and has offices in London, Dublin, Boston, Milan, Rome, Luxembourg, Singapore and Tokyo.