A tradition of excellence at the heart of the bond markets

As it approaches its 50^th anniversary, Atlanticomnium continues to grow, building on its family heritage and recognised expertise in European credit. On the occasion of this historic transition, we meet Patrick Smouha, who is preparing to write the next chapter.

Founded in Geneva in 1976 by Richard Smouha, Atlanticomnium S.A. initially established itself as an independent wealth manager before becoming a benchmark in bond fund management.

A decisive turning point occurred in 1985, when Jeremy Smouha, then at GAM under the leadership of pioneer Gilbert de Botton, spearheaded the transformation of Atlanticomnium into an asset manager. This collaboration allowed the funds managed by Atlanticomnium for GAM to grow significantly, establishing a long-standing
relationship between the two firms.

In 1992, Anthony Smouha joined the company founded by his father and redefined its investment strategy, transforming the initial philosophy into a recognised institutional model capable of attracting major international investors. Under his leadership, the funds experienced spectacular growth, driven by unique expertise in subordinated debt of European banks and insurance companies, positioning the Geneva-based company as major player in European credit.

The historic partnership between Atlanticomnium and GAM contributed to making the strategy developed in Geneva one of GAM’s most recognised offerings. In 2012, Jeremy Smouha officially joined Atlanticomnium and founded the subsidiary ATL UK, which he has managed from London ever since. He was later joined by his son, David Smouha, in 2020, continuing the family’s entrepreneurial spirit.

The company continued to grow with the arrival of new talent: Grégoire Mivelaz joined the team in 2009 before becoming a Fund Manager; Patrick Smouha joined the company in 2012 and became a Fund Manager of the GAM Credit Opportunities strategies; Romain Miginiac joined Atlanticomnium in 2018 before being promoted to Fund Manager in 2023; Gianni Ferrari also arrived in 2018, taking responsibility for all operations, a key step in structuring and modernising internal processes.Nearly half a century after its creation, Atlanticomnium remains true to its family identity while embracing a culture of excellence and innovation. Bolstered by the strength of its team and an intergenerational vision, the company is approaching its 50^th anniversary in 2026 with the same ambition as when it started: to offer its investors sustainable performance, based on rigour, trust and continuity.

In June 2026, while Anthony Smouha will remain fully active within the company as Fund Manager, Patrick Smouha will become CEO of Atlanticomnium in order to perpetuate the family tradition of excellence and ensure the transmission of expertise built on nearly fifty years of success.

Patrick Smouha
Fund Manager, Atlanticomnium SA

Patrick Smouha, you will soon be taking over the leadership of Atlanticomnium. What is your vision for the company, and how do you intend to build on the family legacy?

Taking over the leadership of Atlanticomnium, particularly in the year of its 50^th anniversary, is both an honour and a responsibility. Having been with the firm for nearly 14 years, my objective is to continue developing the business in continuity, while preserving what makes our strength: a rigorous investment approach, recognised expertise in fixed income, and constant attention to our clients and partners. I would also like to highlight the quality of the relationship we maintain with our main partner, GAM, which, under the impetus of a new management team, is currently experiencing positive momentum.

Atlanticomnium has established itself over several decades as a recognised player in fixed-income investing. How do you see this positioning evolving in light of new market challenges and investor expectations?

Over its 50 years of existence, Atlanticomnium has weathered many upheavals: the 2008 financial crisis, the period of zero (or negative) interest rates, Covid, among others. We have always managed to adapt to these changes, while preserving and strengthening the core of our business: our investment team.  Today, we continue to develop our quantitative and qualitative analyses in order to meet investors’ expectations. Our experience and long track record are a solid asset in addressing the current and future challenges of the bond markets.

What have you learnt in your 14 years at Atlanticomnium?

These 14 years have allowed me to experience periods of strong growth, but also more challenging times. It is often these more complex periods that teach us the most and prepare us for the future. The key point is that we have always been able to adapt, both in navigating market volatility and in the way the company is run. This ability to adapt puts us in an ideal position today to take advantage of future opportunities.

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