Alantra closes the buyback of SYZ’s stake in the Group’s private banking business
Date 4 October 2016
Type Corporate News
ALANTRA and its private banking management team (ALANTRA Wealth Management) hold now a 100% stake in the business.
ALANTRA WEALTH MANAGEMENT has a team of 39 professionals in four different offices (Madrid, Barcelona, Bilbao and Zaragoza).The team holds a relevant position among Spain’s independent private banking firms leveraging on its €1.3bn of AuM at September 30 and an average increase of €200mn in the last five years.
ALANTRA WEALTH MANAGEMENT’s value proposition relies on independent advice, the team’s commitment and alignment with its clients, a top-quality service, and a results-driven approach.
ALANTRA WEALTH MANAGEMENT aims to strengthen its team by adding senior bankers, such as the newly incorporated partner Javier Andrada-Vanderwilder, who joined from Deutsche Bank and has a experienced career of over 15 years in the sector.
SYZ Group will continue its relation with ALANTRA WEALTH MANAGEMENT at least for the next three years, providing the same global management capacities and asset allocation it has been providing up to date.
Madrid– ALANTRA and the management team of its private banking business (to be renamed as ALANTRA WEALTH MANAGEMENT from previous N+1 SYZ) have successfully closed the acquisition of the 46% stake in the entity from SYZ Group. The transaction was pending to the non-opposition of the Spanish Securities Market Commission (CNMV, by its Spanish acronym).The closing of the transaction comes after Group’s recent announcement of adopting ALANTRA as new name for the company. This new brand responds to the new reality of the group, a truly global player with over 345 professionals in 19 countries. It also responds to the principle “one firm, one brand”, by which the different partnerships of the group will be adopting a common brand from now on.As part of the agreement, SYZ Group will remain at least three years as provider of investment advisory services and asset allocation, ensuring the continuity of a flexible, agile and private investor oriented management style, with a strong variety of portfolio assets and a performance aiming to ensure low volatility.ALANTRA WEALTH MANAGEMENT currently manages €1.3bn, with the goal of achieving €2bn of AuM in the next three years. To that effect, ALANTRA WEALTH MANAGEMENT aims to strengthen its team by adding senior bankers that share the philosophy of service and commitment with its clients. Javier Andra-Vanderwilder’s recent incorporation, who has an extensive experience of over 15 years in the sector and who previously worked at Deutsche Bank, responds to the above-mentioned strategy.”We are very satisfied of being able to announce this relevant step, especially in terms of reinforcing our independence and commitment with clients”, said Alfonso Gil, CEO of ALANTRA Wealth Management. “Our value proposal strengthens also with the growing capacities of ALANTRA in a moment of deep international expansion, reflected in its new brand”.Santiago Eguidazu, Executive Chairman of ALANTRA, said: “we wouldn’t have been able to build so much traction in this business, initiated a few years ago, without the contribution of SYZ, a magnificent partner to date and our chosen collaborator for the future”. Mr. Eguidazu added: “I am very pleased to increase our stake in a business activity which has proved valuable not only for the segment itself, but for the whole Group from a strategic point of view. On one hand, the bankers’ access to Spanish family businessmen has clear synergies with our investment banking and asset management. On the other, it integrates recurrent – and growing – income, increasing our capacities to generate profits for our shareholders in the mid- and long-term”.
About ALANTRA Wealth Management
ALANTRA WEALTH MANAGEMENT advises high net worth individuals (assets over €1mn) providing an independent and value-added WEALTH MANAGEMENT service. The firm, made-up of an investment firm and an asset management company, advises 450 families in its four different offices (Madrid, Barcelona, Bilbao and Zaragoza), having €1.2bn of AuM.
ALANTRA is a global investment banking and asset management firm specializing in products and services of high added value in the mid-market segment. The asset management division has over €3.2bn of AuM. The investment banking division, present in 19 countries, advises in M&A, fixed-income, portfolio and capital markets transactions. ALANTRA is quoted in the Spanish Stock Market.
About SYZ Group
Founded in 1996 in Geneva, Swiss banking group SYZ focuses exclusively on asset management via two complementary pillars: high-end private banking and asset management. SYZ has CHF 39 billion in assets under management ( €36 billion, $39 billion). Headquartered in Geneva, the Group also has offices in Zurich, Lugano, Locarno, Milan, London, Luxembourg, Brussels, Paris, Johannesburg, Miami, Nassau and Hong Kong.