According to Bloomberg, a generational family split has emerged at Geneva-based Swiss private bank Banque Syz SA. Marc Syz, son of the bank’s founder Eric Syz, has departed alongside business partner Richard Byworth, following a fundamental disagreement over the bank’s cryptocurrency strategy. Marc Syz previously led Syz Capital, the bank’s alternative assets division, and had planned to bring bitcoin treasury company Future Holdings AG under its umbrella—a proposal that failed to gain approval from his father, Eric Syz. After leaving, Marc Syz and Richard Byworth have moved forward with a dual listing plan for Future Holdings AG. Marc Syz stated that Future Holdings will become Europe’s largest bitcoin treasury company.
Swiss private bank Banque Syz faces family feud over crypto strategy
TechFlowShare
Summary
Swiss private bank Banque Syz SA is navigating a family dispute over cryptocurrency investment strategy. Marc Syz, son of founder Eric Syz, has left the bank alongside partner Richard Byworth due to disagreements regarding the bank’s cryptocurrency direction. Marc had advocated for bringing bitcoin custodian Future Holdings AG under Syz Capital, but the proposal was rejected. Now, the pair is advancing Future Holdings’ dual listing, with Marc stating it will become Europe’s leading bitcoin custodian. The move underscores a rift between traditional and long-term crypto strategy approaches within the family.
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