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January 5, 2022

Bank Syz snaps up independent asset manager BHA Partners

By Patrick Brusnahan

Bank Syz has expanded in Switzerland with its acquisition of independent asset manager BHA Partners AG.

The deal, which represents close to CHF1bn ($1.09bn) in assets under management (AuM), is set to deepen the Syz presence in Zurich.

Nicolas Syz, head of private banking at the firm, will lead the merger and integration of the businesses.

Furthermore, the seven-person team of BHA Partners will compliment the Syz team by valuing client service excellence and a commitment to identifying truly unique investment opportunities.

The acquisition also strengthens Bank Syz’s Zurich-based private banking team. The new bankers hold expertise in the Swiss German, Swedish and UK markets, while sharing the same values and entrepreneurial mindset that defines Syz’s DNA.

Meanwhile, existing clients of BHA will be able to capitalise on Syz’s investment expertise, while having the choice to retain their assets with their existing banks, thanks to the Group’s newly launched Syz Multi-Custody offering.

Henrik Hedman, principal partner at BHA, said: “Independent asset managers today face most of the same compliance and administrative burdens as banks. After starting our careers in large banks and then leaving to set up our own business due to the bureaucracy and lack of client focus we experienced, it made returning to a traditional bank unappealing.

“What made joining Bank Syz so attractive was the entrepreneurial culture of performance-driven client service – and an organization 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.”

Yvan Gaillard, CEO of Bank Syz, added: “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.”

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