Syz & Co takes a majority shareholding in Banca Albertini Syz
Swiss banking group Syz & Co has increased its previous 50% stake in Italian bank Banca Albertini Syz & C. to 64.3%.
Syz & Co increased its stake by acquiring the shares of two of Albertini’s Italian shareholders, Giampaolo Gamba and Ernesto Marelli. They are staying on as directors and continuing their present activity within the bank. Alberto Albertini retains the remaining 35.7% of the capital.
Banca Albertini Syz & C. SpA is based in Milan and with offices in Rome, Bologna and Reggio Emilia. The Italian private bank was established via a partnership agreed in January 2002 between Syz & Co and the Milanese group Albertini. Banca Albertini has assets under management of CHF3.3bn.
Alfredo Piacentini, co-founder of Syz & Co, said: “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 specialized 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.”