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.

No financial terms were disclosed. The deal advances Corient’s plans to become “one of the world’s leading wealth managers and multifamily ...