A private banking boutique based in Geneva is on the lookout for potential acquisitions to supplement organic growth.
Last year, Geneva-based Syz Group generated a net profit of 1.3 million Swiss francs, with all three of its divisions delivering operating profits, and assets under management increasing 6 percent to 27.6 billion francs ($29.6 billion), the group said in a statement Wednesday.
While continuing to target further organic growth, Syz also bolstered its position in the Swiss market with the acquisition of Zurich-based independent asset management firm BHA Partners.
Expanding the Business
The bank is looking to build on that success.
«Accelerating organic growth, seeking further acquisitions, expanding our presence in core markets, and increasing our attractiveness to talent are our priorities for the year ahead,» says group CEO Eric Syz.
The bank has also expanded its service offering beyond its own booking platform, offering multi-custody services to its clients. This allows customers to leave their assets with their principal bank while accessing Bank Syz's investment expertise.
From various offices in Switzerland, Syz provides wealth- and asset management along with alternative investments to international private and institutional clients. Its Istanbul and Johannesburg locations offer wealth management.
