Swiss private bank Banque Syz has announced the completion of its merger with the Swiss subsidiary of Royal Bank of Canada, renamed Banque Syz Suisse.
Banque Syz has acquired former Swiss RBC branch five months ago on its own capital.
The wealth management division of Syz group has nearly doubled its assets from CHF24bn to CHF40bn and therefore ranks in the top 20 of the largest Swiss private banks.
This acquisition enables Banque Syz to develop in regions it had been absent from to date, including Latin America and Africa.
“The merger has enabled us to become a top 20 banking institution. I’m convinced that this strengthening will be beneficial to our clients and help our company meet the new challenges facing the Swiss financial market”, said Eric Syz (pictured), CEO of Syz Group .