As part of its diversification strategy, Swiss bank Reyl & Cie has expanded its range of activities into asset services, targeting institutional clients.
The group, which already offers services in the areas of wealth management, asset management, private office and corporate advisory & structuring services, said it seeks to capitalise on its internal resources and skills as well as the investments made over the years on organic growth by expanding its scope of business.
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The new business line will be headed by François Savary, who will continue to serve as chief strategist for the firm, Reyl & Cie said in a statement.
According to the company, the new business line will offer a host of bespoke services including investment consulting and delegation, along with a comprehensive line-up of global custody, trading, fund depositary, governance and set-up services.
The new service will be mainly aimed at institutional players such as private banks, securities dealers, family offices, pension funds, fund managers and independent asset managers.
The new services will be implemented through the group’s Geneva headquarters infrastructure and will be supported by the contribution of about 40 professionals based in the company’s domestic and foreign entities.
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By GlobalDataCommenting on the launch Savary said, "The level of expertise we have achieved in the main production areas led recently to our responding to requests from several clients. As such, we thought it was the right time to commercialise that expertise in a more formal manner and give it its full dimension.
"It is particularly motivating for us to enable our clients to externalise ancillary functions that regulatory changes are making increasingly complex and, by extension, increasingly restrictive. Relying on our tools and teams, our clients can significantly reduce the processing costs involved in those tasks and at the same time focus as a priority on their core business."
