The Swiss wealth manager is snapping up a $1.1 billion independent boutique in Zurich.
Geneva-based Bank Syz is buying BHA Partners, an independent asset manager based in Zurich which manages 1 billion Swiss francs ($1.1 billion), it said in a statement on Tuesday. Syz didn't disclose any financial details of the acquisition.
BHA's seven people represent a strengthening for Syz in Switzerland's German-speaking region. Private banking head Nicolas Syz will lead the merger and integration of the businesses into the eponymous bank founded by his father, Eric Syz, in 1996.
Originally formed as Burgauer Huser Aman & Partner in 1990, BHA is specialized in clients in the Swiss-German, Swedish, and U.K. markets. It is controlled by partners Pierre-Yves Eckard, Henrik Hedman, Urs Leuzinger, and Reto Stoecklin.
(Urs Leuzinger, Henrik Hedman, Reto Stoecklin, Pierre-Yves Eckard, from left)
Choice Of Custody
Syz said the team will continue to focus on business development and client servicing. Existing BHA clients will be able to lean on Syz’s investment expertise, while also choosing whether they want to keep their assets with their existing banks, as Syz offers multi-custody services.
«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,» Bank Syz CEO Yvan Gaillard said.
