Swiss wealth and asset management group REYL
& CIE has received permission to set up a bank in Switzerland
from FINMA [Swiss Financial Market Supervisory Authority].
The move is part of its strategy to expand its
financial services footprint and attract more customers in
different areas.
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The firm now plans to expand its
footprint as a “fully-fledged bank” to Zurich next year,
offering its three core services wealth management, investment
funds and private office services.
REYL & CIE has offices in Paris and
Luxembourg, and opened a branch in Singapore earlier this year.
REYL was established in 1973 and now has assets worth about
CHF4bn [$4.12bn].
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