With a clearly defined business model and strategy in place, the Syz Group has demonstrated its capacity to deliver in a difficult 2022 macroeconomic environment. “2022 was a challenging year for the financial industry, and we are proud to have achieved strong results despite these difficulties,” said Eric Syz, Group CEO.
“Our robust business model, which is based on three complementary business lines, has shown its resilience in the face of adversity and its effectiveness in generating positive results.” Bank Syz in particular recorded a solid set of results with a net profit of CHF 9 million, “almost double that of 2021, contributing to the Group’s growth acceleration,” he added.
Assets under Management were down at CHF 23.1 billion, mainly due to market effects. The Group saw net outflows as the Bank adopted a more focused approach to its development, exiting several non-core markets and Syz Asset Management saw the impact of the challenging negative interest rates environment at the beginning of the year. However, fundraising has been positive for Syz Capital who launched a new flagship product in litigation finance.