Wealth Firm Corient Buys Bedrock Group in Latest European Deal

US wealth manager Corient agreed to buy Switzerland’s Bedrock Group, as the Mubadala Capital-backed firm looks to further boost its capabilities to serve Europe’s rich.

Bedrock manages 8.4 billion Swiss francs ($10.7 billion) in client assets with services spanning traditional investment management, private asset strategies and broader family office services, according to a statement Thursday. Founded in 2004 by Ariel Arazi, Maurice Ephrati and David Joory, it has offices in Geneva, London, Monaco and Lisbon.