Best Private Bank for Innovation - Banque SYZ & CO

Banque SYZ & Co, which was established in Geneva in 1996, has seen its clients’ assets under management grow to reach SFr25bn (€20bn) to become one of the success stories of Swiss private banking.

Eric Syz, one of the three managing partners of Banque SYZ & Co, comments that Switzerland is back in favour again.

“The huge debt problems and the euro crisis have made many European investors worried and they are now finding their way back to Switzerland, rightly perceived as a safe country in which to hold your assets,” says Mr Syz.

“Another positive trend concerns the withholding tax agreements negotiated this summer with the UK and Germany. This is a very positive development as they not only provide an important tax manna for these governments but, more importantly, they provide investors a path to tax compliance while maintaining their financial privacy.

“After years of market upheavals, investors are finding that the Swiss investment style, ie focus on capital preservation, active management, diversified and non-indexed portfolios, remains the best answer to their needs,” Mr Syz adds.

Balancing return and risk continues to be the major challenge for the bank: “Of course, you need to deliver good returns, but you must above all protect their assets. I believe that the best way to go is to adopt an absolute return objective and to align interests by putting in place a performance fee system,” says Mr Syz. “In the current markets, this is certainly a big challenge but, with an active asset allocation and modern investment techniques, you can achieve superior results,” he adds. JC