GENEVA, March 12, 2015 (GLOBE NEWSWIRE / Knowledgebylanes) — N+1 SYZ, the Spanish private banking entity of the SYZ Group, is continuing its expansion in Spain with the strengthening of its private banking team in Madrid and the opening of an office in Zaragoza. The Iberian asset management company now comprises four offices in Spain (Madrid, Barcelona, Bilbao and Zaragoza) and has EUR 1 billion of assets under management with a team of 18 senior private bankers.
Shortly after the opening of new offices in Dubai in June 2014 and in Edinburgh in November 2014, the SYZ Group is reinforcing its operation in Spain with the opening of a new office of the asset management company N+1 SYZ in Zaragoza.
The new office will be managed by Javier Martinez Suarez, formerly executive director at La Caixa’s private banking unit in Saragossa and with more than 20 years of experience in wealth management.
Since 2009 SYZ has been present in Spain through the joint-venture with N+1 SYZ, which combines in-depth knowledge of the local economy with SYZ’s international asset management expertise and N+1′s flow of corporate finance operations. Despite a gloomy macro-economic environment in Spain, the asset management boutique has experienced strong growth. N+1 SYZ has EUR 1 billion of assets under management and a team of 18 senior private bankers in its four locations, Madrid, Barcelona, Bilbao and Zaragoza.
Located mid-way between Madrid and Barcelona, Zaragoza is an important economic center. It is the 5th-largest Spanish city in terms of population size (680,000 inhabitants) and the 4th-largest in terms of economic activity.
For further information, please contact:
Tel.: +41 (0)58 799 16 98
Founded in 1996, the Swiss banking group SYZ focuses exclusively on asset management through two complementary business lines: high-end wealth management (Banque SYZ SA) and institutional management (SYZ Asset Management SA). SYZ has 440 employees and assets under management of CHF 29.2 billion (EUR 24.3 billion)1.
About N+1 SYZ
N+1 SYZ is a joint-venture between SYZ (50% of stake), N+1 (25% of stake) and group’s executive members (25% of stake). N+1 SYZ offers advisory and wealth management services to private and institutional clients in Spain. The bank has assets of EUR 1 billion under management2 and employs a staff of 36.
Press Release (PDF): http://hugin.info/166509/R/1902258/676317.pdf
1 Figures as of 30 September 2014
2 Figures as of 31 December 2014