Switzerland’s Richest Person Hires Fidelity Manager for CEO Role

(Bloomberg) -- The family office of Ernesto Bertarelli, Switzerland’s richest person, hired Cyrus Jilla to help run its investments.

Jilla, 50, who previously headed a Fidelity International Ltd. investment unit, will be chief executive officer of Northill Capital, Bertarelli’s Waypoint Capital said Tuesday in a statement. London-based Northill takes stakes in money managers globally.

“While Cyrus’s initial focus will be on Northill Capital, we aim for him to have a broad remit over the long-term to help support and develop Waypoint’s other investment programs,” Bertarelli, 54, said in the statement.

Jilla was CEO of Fidelity International’s Eight Roads Ventures until June. He started his career at Schroders Plc before later working at Bain & Co. Gordon McNair, who has served as Northill’s interim CEO since the departure last year of founder Jon Little, will return to his role as group chief financial officer, according to the statement.

The bulk of the Bertarelli family’s $18.1 billion fortune came from the sale of their fertility drug manufacturer, Serono, to Merck KGaA for $8.6 billion in 2006. Most of the proceeds have been reinvested through Geneva-based Waypoint.

The family office’s assets include commercial real estate in London and Switzerland, and a tech-focused venture fund, Forestay Capital.

To contact the reporter on this story: Ben Stupples in London at bstupples@bloomberg.net

To contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Steven Crabill

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