The deal is intended to grow the private banking business in German-speaking Switzerland. The acquired company manages assets of around CHF 1 billion. The acquisition was completed in December 2021 and existing BHA customers are to be advised by Bank Syz in the future.
The BHA team is to expand the private banking of Bank Syz and has so far been active in German-speaking Switzerland as well as in the Swedish and British markets. According to a Bank Syz representative, further strategic acquisitions to expand the wealth management offering in Zurich and the German-speaking markets are being planned.
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