Bank Syz has acquired Zurich-based asset manager BHA Partners AG, which represents CHF1 billion in assets under management, as part of the expansion of its Swiss German business.
The Geneva-based banking group called the acquisition “an important milestone” that will see it significantly deepen its presence in Zurich, and the broader Swiss domestic market.
The acquisition of BHA closed in December 2021.
Head of private banking Nicolas Syz will lead the merger and integration of the business into the bank founded by his father, Eric Syz, in 1996.
Following the deal, BHA clients will be able to invest alongside the Syz family in private markets.
BHA Partners’ seven-person team specialises in the Swiss German, Swedish and UK markets, and will strengthen Bank Syz’s Zurich-based private banking team.
Bank Syz said that its new Syz multi-custody offering will allow existing clients of BHA to capitalise on Bank Syz’s investment expertise, while having the choice to retain their assets with their existing banks.
Yvan Gaillard, CEO of Bank Syz, said: “This strategic acquisition will be the first of many for Bank Syz, as we look to bolster our home market activity. Reinforcing our wealth management footprint in the Zurich financial hub will also allow us to broaden our contacts with the German-speaking markets over the long term.
“We are integrating an outstanding team with the same mindset that will help deliver an enhanced experience to our growing client base.”
Henrik Hedman, principal partner at BHA, added: “What made joining Bank Syz so attractive was the entrepreneurial culture of performance-driven client service – and an organisation designed to ensure that bankers remain focused on serving their clients while offering them outstanding investment solutions and fully respecting the highest standards of compliance.”
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