Du är här

2015-08-31

SYZ Group : Royal Bank of Canada (Suisse) SA becomes Banque SYZ Suisse SA

Banque SYZ SA / SYZ Group : Royal Bank of Canada (Suisse) SA becomes Banque
SYZ Suisse SA. Processed and transmitted by NASDAQ OMX Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
Royal Bank of Canada (Suisse) SA becomes Banque SYZ Suisse SA

Geneva, 31 August 2015 -Seven weeks after the agreement was announced, the SYZ
banking group announces
the completion of the acquisition of Royal Bank of Canada (Suisse) SA. The
acquisition, approved by FINMA, the
Swiss Financial Market Supervisory Authority,
became effective on 28 August. The new entity is called Banque SYZ Suisse SA
and its merger with Banque SYZ SA is scheduled for end 2015.

Announced on 14 July, the agreement to acquire Royal Bank of Canada's Swiss
private banking business was finalised in a matter of weeks, following the
approval of the Swiss regulatory authorities.

This acquisition enables the private banking division of the SYZ Group to
double its assets to CHF 22 billion (resulting in a total of CHF 40 billion
of assets under management at Group level) and to expand its international
footprint. In addition to Europe, where SYZ has built its reputation, the
bank will also have operations in Latin America, Africa and the Middle East,
and will be able to benefit from the recognised expertise of the teams in
these regions.

The acquisition was entirely financed by internal resources, demonstrating the
SYZ Group's sound financial position. The Group's equity and liquid assets
significantly exceed current Swiss standards, which are amongst the strictest
in the world. From 2017, the profits from this acquisition are forecast to
contribute an additional CHF 30 million per year to the SYZ Group.

"I am particularly proud of the commitment shown by the respective teams,
which have done remarkable work in order to complete this transaction so
quickly. This just shows how much we have in common when it comes to shared
values and ambitions,"
said Eric Syz, Group CEO.

For further information, please contact:

Moreno Volpi
Tel.: +41 (0)58 799 16 98
E-mail:moreno.volpi@syzgroup.com

About SYZ Group

Founded in 1996 in Geneva, Swiss banking group SYZ focuses exclusively on
asset management via two complementary pillars: high-end private banking
(Banque SYZ) and asset management (SYZ Asset Management). SYZ employs 580
staff and has CHF 40 billion in assets under management (EUR 39 billion, USD
40 billion). Headquartered in Geneva, the Group also has offices in Zurich,
Lugano, Locarno, Milan, Madrid, London, Luxembourg, Brussels, Paris, Dubai,
Johannesburg, Miami, Nassau and Hong Kong.

www.syzgroup.com

Press Release
http://hugin.info/166509/R/1948356/707677.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Banque SYZ SA via Globenewswire

HUG#1948356

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.