Swiss investment firm Helvetia Wealth has expanded its Irish presence with the acquisition of Dublin-based Mercury Wealth Management.

Mercury specialises in capital-secure investments; its 2,000 customers include private individuals, companies, pension funds, credit unions and charities. Helvetia said the deal would add 70 million Swiss francs (€50 million) to its assets under management. Mercury was founded in 2004 by Gareth Fahey, who worked previously with Liberty Asset Management and Standard Life Investments. Mr Fahey is the sole beneficiary of the purchase price, which was not disclosed.

The deal is Helvetia’s second Irish purchase within a month, following the acquisition of JD Murphy Investment Life Pension Benefits in Kilkenny.