The banking group Reyl & Co has established its first set of offices in London as part of an ongoing expansion effort. The Geneva-based operation is undertaking this effort as part of its global expansion.
Founded in 1974, Reyl opened its first non-Swiss office in Paris in 2004 and has since launched others in Luxembourg, Singapore, Hong Kong, and now London.
Explaining the bank’s decision to open an office in London, Reyl’s managing partner for the UK operation, Ladislas Safyurtlu, described the city as not only a “major wealth management and investment fund hub, but also a global business and financial centre”.
“The British capital is a true gateway to Asia, the Middle East, Russia and the United States and, as such, it is very attractive to our clients. If London is a true gateway for them, it must be so for us as well,” he said.
Francois Reyl, the group’s chief executive, explained in a statement that the London office is to focus primarily on wealth management activities and particularly on meeting the needs of high-net-worth clients based in the British capital.
“Reyl London will become a showcase for all of the group’s activities, from the distribution of our investment fund range, managed by Reyl Asset Management, to our private office services, led by Reyl Private Office, and our investment banking activities,” Reyl said.
Another central European banking group to have notably expanded its office space presence in recent weeks is the Lichtenstein-based private bank LGT, which set up a Middle Eastern subsidiary and opened an office in Dubai earlier this month.
Reyl & Co has 160 employees worldwide and some 7 billion Swiss Francs under management, which amounts to roughly £4.8 billion.
Editor’s Notes: The banking group that is regulated in the UK by the Financial Conduct Authority (FCA) is based on Queen Street in the City of London in the EC4N postcode district.
Other offices occupied by the group are located in Geneva, Zurich and Lugano in Switzerland, and also in Malta, Dubai, Singapore and Luxembourg.
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