WSP granted fund selection mandate from CHF35bn private bank
Swiss boutique Wealth Solutions Partners, relying on full open-architecture, has announced it has been selected by Geneva-based Banque Syz for the establishment of Syz’s long-only fund selection list that will serve the bank’s advisory and discretionary divisions.
Banque Syz manages over CHF35bn (€31.2bn) in assets.
WSP said that the agreement reached represents “a strong recognition by a well-established player in the Swiss wealth management market of WSP’s expertise and ability to deliver with quality, consistency and independence.”
WSP stressed that the use of outsourcing for investment tasks is on the rise with the forthcoming implementation of Mifid II.
“We aim to position Wealth Solutions Partners ahead of that trend by offering highly tailored services to the private banking market in Switzerland and elsewhere,” the firm added.
WSP was launched in July 2016 by Hervé Croset (pictured) and Antonio Carballo, former head Global Fund Strategy and senior fund analyst at HSBC Private Banking respectively. They were later joined by Philippe Darbellay, former senior fund analyst at Pictet Wealth Management.