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With the acquisition of Royal Bank of Canada (Suisse) SA, the assets under management of the private banking business of SYZ Group will double, reaching nearly CHF 22 billion and making it one of the top 20 largest private banks in Switzerland. In total, including its Asset Management and Wealth Management divisions, the Group will manage nearly CHF 40 billion in assets under management.

The clients will benefit from the recognised expertise of Banque SYZ in asset management while still being able to take advantage of the specific features that have made RBC Suisse a success, notably the recognised track record of its teams in the emerging markets, their renowned competences and the quality of their service. Since inception, Banque SYZ has offered an innovative approach to wealth management, combining the benefits of a traditional private bank in terms of solidity, independence and high-quality relationships with a clear commitment in terms of performance, which is obtained thanks to the most modern investment methods and a policy of active management.

"This acquisition will enable Banque SYZ to access new markets in Latin America, Africa and Middle East, where strong entrepreneurship, one of our founding values, is expanding. It also represents a major step forward in terms of the Group's growth strategy. I am delighted to welcome these new teams to our organisation and I firmly believe that we will benefit enormously from their many skills." stated Eric Syz, CEO of the Group.

The recent adoption of the banking solution Avaloq and the outsourcing of some operational activities to B-Source will enable the smooth integration of the operations of the Swiss private banking subsidiary of RBC.

This transaction is still subject to the approval of the Swiss regulatory authorities.

Press Release