Geneva-based banking group SYZ has agreed to acquire the Swiss private banking subsidiary of Royal Bank of Canada in a move which doubles the firm's assets under management and expands its reach across the world. Following its expansion in the UK, the SYZ will now take over CHF10bn (£6.8bn) of assets which RBC's Swiss private banking arm operates in Latin America, Africa and the Middle East. The acquisition...
Syz & Co (RBC) is to sell its Swiss private bank to Royal Bank of Canada, along with CHF 10bn ($10.5bn) under new management, as part of RBC's plan to streamline its private banking activities. The purchase price for the unit has not been disclosed.