The Swiss banking group [SYZ & CO]( announced today that it has signed an agreement with State Street Global Advisors (SSgA) for the transfer to SYZ & CO of SSgA’s Zurich-based institutional Swiss fixed income activities. The transfer represents several billions in assets under management and very high quality clients, including numerous prestigious pension funds, both public and private. The three-person asset management team will join SYZ Asset Management, the group’s institutional asset management entity, and will be based in Zurich.

This transaction allows SYZ & CO to significantly strengthen its institutional business, while offering attractive diversification and synergies.

The friendly acquisition of State Street Global Advisors AG’s Swiss fixed income business in Zurich results from a State Street Global Advisors review of its activities in order to define a new
operational model in Europe. The clients concerned by the transfer to SYZ & CO include primarily public pension funds or large private corporations’ pension funds, invested in Swiss fixed income
products through segregated mandates and three Swiss-domiciled funds dedicated to institutional investors. *“We chose SYZ & CO for its expertise and track record in asset management, and for its
position in the Swiss market. This transaction has our full support, and is endorsed as well by the teams concerned,”* said Rüdiger Zeppenfeld, Managing Director of State Street Global Advisors in Zurich. *“We encourage our clients to accept the proposed change as it allows for continuity with the same approach and asset management team, within a solid organization which understands the complex needs of institutional investors.”*

*“The acquisition presents numerous benefits for our group. Indeed, this domestic client base strengthens our institutional asset management business and ideally complements our own existing client base”* added Paolo Luban, Managing Partner of SYZ & CO and head of Asset Management. *“This team enjoys a first-rate track record and its reputation will allow us to assert our position along the Limmat River*.”

##SYZ Asset Management##

In parallel with traditional private banking, the SYZ & CO Group has, from the outset, developed a
strong expertise in asset management, first with the management of the OYSTER European
equities, bonds or balanced investment funds, then via segregated mandates – particularly in
absolute return – for Swiss and European institutional clients.

The SYZ & CO Group comprises several distinct entities, such as Banque SYZ & CO SA and 3A SA. Bahamas operations SYZ & CO Bank & Trust Ltd. and Alternative Asset Advisors SA operate from Bayside Executive Park, Nassau.