The SYZ & CO Group has increased to 64.3% its stake in the holding company that controls Banca Albertini Syz & C SpA, which until now it owned in equal shares with the Albertini Group.
This operation was conducted by taking over the shares of two of Albertini’s Italian shareholders, Giampaolo Gamba and Ernesto Marelli, who are staying on as directors and continuing their present activity within the bank. Alberto Albertini retains the remaining 35.7% of the capital.
Based in Milan and with offices in Rome, Bologna and Reggio Emilia, the Italian private bank Banca Albertini Syz & C SpA was established as a result of the partnership initiated in January 2002 between SYZ & CO and the Milanese group Albertini. With assets under management of CHF 3.3 billion, Banca Albertini Syz & C specialises in high-end private banking for an Italian clientele.
“This increased commitment of the SYZ & CO Group to their Italian shareholding is very positive. It is a token of trust in our country and our business, in an environment that is certainly difficult for Italy, and a recognition of our cooperation, which has been operating successfully for more than 10 years thanks to a reciprocal commitment and trust, and which is characterised by independence and professionalism in private banking and asset management," says Alberto Albertini, managing director of the Bank and also a shareholder of the SYZ & CO Group.
"This operation enables us to speed up integration of the Group’s Swiss and Italian expertise in a market with a great growth potential for highly specialised and professional entities like ours. Our aim is to make the most of the opportunities that arise in an environment of far-reaching changes in Europe," says Alfredo Piacentini, co-founder of SYZ & CO.