Banque Syz is expanding toward the Middle East despite the current economic uncertainties. The opening of an office in Istanbul is a next step along its growth strategy.
Geneva-based Syz received the go-ahead of the Turkish regulators to open a representative office in Istanbul, the metropolis that sits on both sides of the Bosporus and spans two continents. The step to expand in Turkey is part of the bank’s growth strategy aimed at expanding its presence in key markets globally, outlined by CEO Yvan Gaillard recently.
Banque Syz sees the move not only as an opportunity to be closer to its clients in the region but also to gain a better understanding of the market conditions and investment opportunities in Turkey.
Entrepreneurs at Heart
«Switzerland ranks among Turkey’s most important investors and we felt that there was an opportunity to build on this relationship further,» said Nicolas Syz, the bank’s head of private banking. «We are entrepreneurs at heart and share many similar values with Turkish investors.»
The head of the local representative office is Idil Parman: «The country lies conveniently between Europe, the near East and central Asia, and holds good relationships with the Middle East, which is another important market for us. We are interested in the evolution of this region and believe that having a local presence will allow us to be closer to Turkey’s pulse.»
