N+1 Syz, the Spanish private banking branch of the Syz Group, has strengthen its private banking team in Madrid and opened an office in Zaragoza.
The Iberian asset management company now comprises four offices in Spain (Madrid, Barcelona, Bilbao and Zaragoza) and has €1bn AUM with a team of 18 senior private bankers.
Shortly after the opening of new offices in Dubai in June 2014 and in Edinburgh in November 2014, the Syz Group is reinforcing its operation in Spain with the opening of a new office of the asset management company N+1 Syz in Zaragoza.
The new office will be managed by Javier Martinez Suárez, formerly executive director at La Caixa’s private banking unit in Zaragoza and with more than 20 years of experience in wealth management.
Since 2009 Syz has been present in Spain through the joint-venture with N+1 Syz, which combines in-depth knowledge of the local economy with the group’s international asset management expertise and N+1’s flow of corporate finance operations.
“Despite a gloomy macro-economic environment in Spain, the asset management boutique has experienced strong growth. N+1 Syz has €1bn of assets under management and a team of 18 senior private bankers in its four locations, Madrid, Barcelona, Bilbao and Zaragoza,” the group said.
Located mid-way between Madrid and Barcelona, Zaragoza is an important economic center. It is the fifth-largest Spanish city in terms of population size (680,000 inhabitants) and the fourth-largest in terms of economic activity.