The seeds of the Tovel Group can probably be found back in 1995 when Walter Reich first came to BVI for what was to be a short two year secondment with KPMG. On the first morning after his arrival into BVI from Northern Ontario he would tour his new surroundings which he still describes as paradise and quickly realize that his plans might need to be reconsidered. It is also at KPMG BVI where he was first introduced to the world of hedge funds which further peaked his money management curiosity and endeavors.
Stints at Citco (the largest hedge fund administrator in the world) and a small multi-arbitrage hedge fund that would grow to nearly $1 billion in AUM provided the needed for the foundation for the Tovel Group.
“Tovel” is a name from a beautiful emerald green colored alpine lake in the Val di Non, Trentino region of the Dolomites in Northern Italy where Walter’s parents are originally from. Besides being an absolutely stunning lake framed by the majestic Brenta Dolomites, “Lago di Tovel” used to occasionally and mysteriously turn bright red. Scientists were dispatched to the area to find the substance but there is still no complete consensus to what the elusive substance was that made it change its color. It is the same in BVI in determining the right substance required for entities domiciled in BVI but at Tovel, we are confident we can assist in finding the right solution.