Banque SYZ opens a representative office in Turkey

Tuesday, 06/02/2020

Banque SYZ is pleased to announce that it received a license from Turkish regulators to open a Representative Office in Istanbul.

Tuesday, 06/02/2020 - 18:25

The opening of a Representative Office in Turkey is part of the Bank’s growth strategy, aiming at expanding its presence in key markets globally. The country has long been an important bridge between East and West, and Banque SYZ sees this not only as an opportunity to be closer to its clients in the region but also to gain a better understanding of the market conditions and investment opportunities in Turkey.

“Switzerland ranks among Turkey’s most important investors and we felt that there was an opportunity to build on this relationship further”, said Nicolas Syz, Head of SYZ Private Banking. “We are entrepreneurs at heart and share many similar values with Turkish investors. We hope to be able to create synergies between these entrepreneurs, local companies and our broader international network”.

Idil Parman, Head of Representative Office Turkey added, “the country lies conveniently between Europe, the near East and central Asia, and holds good relationships with the Middle East, which is another important market for us. We are interested in the evolution of this region and believe that having a local presence will allow us to be closer to Turkey’s pulse”.

Banque SYZ has offices in Switzerland (Geneva, Lugano, Locarno and Zurich) as well as Representative Offices in South Africa, Turkey and in the US. Banque SYZ reported a net profit of CHF 7.1 million for 2019, thanks to the performance and growth of its private banking business and  external asset management activity. positioning its discretionary and advisory portfolios in the first quartile of their peer groups for USD, CHF and EUR portfolios.