The Wertheimer family, owners of the luxury fashion house Chanel, are establishing new wealth-management operations in Switzerland as their estimated fortune approaches $86 billion. Gerard Wertheimer, 75, a co-owner of Chanel, has set up a family office in Geneva to manage a portion of his $43 billion personal wealth, according to individuals familiar with the matter who requested anonymity.
Gerard Wertheimer enlisted former Credit Suisse private banker Frederic Pasteau several years ago to lead the Swiss family office. Pasteau and Geneva-based lawyer Julie Bozzo-Gros, who has longstanding connections with the Wertheimer family and Chanel, registered at least two investment entities in late 2025. One of these entities recently acquired an office property in central Geneva for 34 million Swiss francs (approximately $40.8 million).
This development reflects a broader trend among ultra-wealthy families positioning new governance and management structures to ensure smooth intergenerational wealth transfer and involvement. Members of the third generation of the Wertheimer dynasty are increasingly active in managing the family’s extensive portfolio.
For decades, the family’s principal investment vehicle has been Mousse Partners, headquartered in New York. Founded in 1991 by Gerard’s half-brother Charles Heilbronn, 71, the firm invests across sectors including Silicon Valley startups and the French bank Rothschild & Co. Charles Heilbronn’s son, Arthur, now 40, serves among the firm’s executives. Mousse Partners operates from a prominent building on Manhattan’s Billionaires’ Row, which is also home to Chanel executive chairman Alain Wertheimer, Gerard’s brother, who lives nearby.
The new Swiss entities supplement a Geneva-based operation called Mousseknuckle, established about ten years ago though showing limited activity to date. The expansion into Switzerland aligns with the family’s longstanding social, cultural and philanthropic involvement in the region. Gerard’s wife Valerie founded a charity in 1999 focused on protecting children from online threats. Gerard and his daughter Olivia serve on the board of Fondation Cassiopée, a nonprofit promoting medical research and cultural projects, while his son David runs an investment firm also connected to Geneva.
The Swiss offices’ registered activities include commercial, financial, and real estate transactions, indicating a broad scope of investment management. Despite the new offices, Mousse Partners remains the family’s central investment platform.
Chanel, a privately held company, regularly pays multibillion-dollar dividends, enabling the Wertheimer family to pursue diverse investments globally. The establishment of the Swiss family office represents an additional layer in the family’s evolving wealth-management infrastructure, supporting the transfer and stewardship of one of the world’s largest private fortunes across generations.