Switzerland-based Syz Group has secured a ‘investment advisor’ licence from Uruguayan authorities to set up a new office in Montevideo.

The new office, Syz Wealth Management, will offer investment advisory services to the company’s offshore clients.

It will also help families and entrepreneurs to safeguard and grow their wealth.

Situated in the Zonamerica free trade zone in Montevideo, Syz Wealth Management represents the firm’s first office in Latin America.

The office also helps Bank Syz to augment its global network.

The office will be led by Rodolfo Rodriguez, who has been with Syz Group since 2016. Rodriguez, who is also a managing director of the group, most recently served as the head of Latin America (Latam).

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Bank Syz head of private banking Nicolas Syz said: “Latin America is an area of historical significance to our Group and we wish to be closer to our clients, both geographically and relationally.

“Serving both private and professional clients in the region for over two decades has led Syz Bank to grow its commitment to this thriving market.

Currently, Bank Syz operates four offices in Switzerland as well as representative offices in Istanbul, Turkey and Johannesburg, South Africa.

In addition, Syz Group plans to increase its reach in Latam in upcoming years through the purchase of new partners.

The latest development comes shortly after Richard Byworth joined Syz Capital, the alternative investment unit of Syz Group, as managing partner and chief of its liquid alternatives business.

In February last year, the group revealed its plan to rebrand its operations.