BSI Ltd
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| Company type | Aktiengesellschaft |
|---|---|
| Industry | Financial services |
| Founded | 1873 |
| Headquarters | Via Magatti 2 Lugano, Switzerland |
Key people | Joachim H. Straehle (Chairman) Thomas A. Mueller (CEO) |
| Products | private banking, asset management |
| Revenue | CHF 816.6 million (2015)[1] |
| CHF 112.5 million (2015)[1] | |
| Total equity | CHF 21 billion (2015)[1] |
Number of employees | 1,900 (FTE, 2015)[1] |
| Website | www |
BSI is the oldest bank in the Swiss canton of Ticino. Founded in 1873 in Lugano as the Banca della Svizzera Italiana, today BSI is an institution that specialises in asset management and related services for private and institutional clients. In 1998, the bank became part of the Italian Generali group, one of the world's biggest insurance companies. In July 2014, Generali sold BSI to BTG Pactual for $1.7 billion USD,[2] a deal that CEO of the bank, André Esteves stated would make BTG Pactual a “global player in the asset management arena.”[3][4]
In February 2016 EFG International (SIX:EFGN), the global private banking group based in Zurich, announced the acquisition of the Lugano-based private bank, according to an agreement signed on 21 February 2016 with BSI’s sole shareholder BTG Pactual. The transaction was finalized on November 1st, 2016.
History
In 1873 BSI opened its main office on Piazza della Riforma in Lugano. The next year, the bank opened its first branch, this in Locarno. Branches in Bellinzona (1879) and Chiasso (1906) followed. In 1880 BSI relocated its headquarters to the historic Palazzo dei Marchesi Riva, which dates back to 1747, where the headquarters of the Bank are located to this day.
- 1881: BSI is the only bank in Ticino authorised to issue banknotes until 1907
- 1935: BSI opens a branch office in Zurich
- 1969: The start of international expansion
- 1973: One hundredth anniversary of BSI. BSI opens the St.Moritz branch
- 1975: BSI extends its reach to the French-speaking part of Switzerland.
- 1976: BSI opens its first representation in South America, in Caracas, Venezuela.
- 1981: Opening of the Hong Kong office.
- 1988: BSI extends its activities to the Principality of Monaco.
- 1998: Assicurazioni Generali, Trieste, becomes the sole shareholder
- 2000: As of 1 January, Banca della Svizzera Italiana is officially renamed BSI SA. In November, it opened new offices in Lausanne.
- 2005: Opens BSI Bank Ltd in Singapore
- 2005: September - The new BSI building opens at Via Canova 6, Lugano.
- 2006: BSI acquires Banca Unione di Credito.
- 2008: BSI acquires Banca del Gottardo and opens a representative office in Bahrain
- 2011: BSI expands in Asia and obtains a banking license to open a branch in Hong Kong
- 2013: BSI expands into Italy and obtains a banking licence to open the Italian branch of BSI Europe in Milan.
- 2014: BSI branch opening in Panama
- 2015:
- After the launch of the branch in Milan, BSI opens a second Italian branch in Como
- On 14 July 2014, the Brazilian group BTG Pactual purchased BSI, subject to approval by the Swiss Financial Market Supervisory Authority (FINMA).
- From 15 September BSI is a subsidiary of BTG Pactual.
- 2016: In February EFG International (SIX:EFGN), the global private banking group based in Zurich, announced that it is to acquire BSI, according to an agreement signed on 21 February 2016 with BSI’s sole shareholder BTG Pactual. The transaction was finalized on November 1st,2016.
- 2016: In May the Monetary Authority of Singapore (MAS) announced that it had served BSI Bank (Singapore) Limited notice of intention to withdraw its status as a merchant bank in Singapore for serious breaches of anti-money laundering requirements, poor management oversight of the bank’s operations, and gross misconduct by some of the bank’s staff.[5]
Product and Services
Private banking
- Management mandate
- Personalised mandate
- Advisory services
- Fund-based accumulation plans
- BSI investment funds
- Selection of third-party funds
- Alternative investments
- Structured products
- Securities trading and currencies
- Custodian services
Wealth management
- Financial Planning
- Corporate Finance
- Lending Activities
- BSI Art Advisory
Initiatives and Events
The dedication demonstrated by BSI to new ideas has been put into practice by promoting research, foundations, conferences, personal and collective exhibitions, publications, expositions of art and exclusive collections, prestigious concerts and a number of other endeavours. BSI is more than a patron - it vigorously promotes communication in these areas, organizing and taking part in events. The bank has always maintained its commitment to art, music and culture, with an active and constant presence at high-profile performances and exhibitions.
BSI Art Foundation
The BSI Art Foundation promotes the arts and culture in all of their forms. It organises events, exhibitions and displays in collaboration with other institutions, associations of individual artists and worldclass national museums. It publishes brochures, books and catalogues about art and artistic endeavours. The Foundation grants scholarships to talented young artists. For established artists, it sets up funds and contributes to developing the artists' potential.
BSI Gamma Foundation
Established on the 125th anniversary of BSI, the BSI Gamma Foundation promotes research in the area of asset management and cooperation between the world of research and practical applications, assigns research mandates to people or institutions with recognized experience in the sector, organises conferences and publishes the research results.
Centenario Foundation
The Centenario Foundation began in 1973 on the occasion of BSI's first one hundred years. Its scope is to bestow monetary recognition to persons or institutions which have furthered the development of Italian-Swiss relations, contributed to the betterment of understanding between the Swiss and Italian people or to the expansion of the common cultural heritage.
BSI Architectural Foundation
The BSI Architectural Foundation promotes understanding, education and research within the field of architecture, in particular by presenting a biennial architectural award, the BSI Architectural Award, the purpose of which is to recognize, and bring to public and media attention, architects who have made an important contribution to contemporary architecture and who have shown particular sensitivity to the landscape and environment.
References
- ^ a b c d e "Annual Report 2015" (PDF). BSI. Retrieved 15 June 2015.
- ^ "Generali Sells Swiss Private Bank to BTG Pactual for $1.7 Billion". NYTimes.com. Retrieved 4 December 2014.
- ^ Bray, Chad; Dan Horch (14 July 2014). "Generali Sells Swiss Private Bank to BTG Pactual for $1.7 Billion". The New York Times. Retrieved 12 January 2015.
In a conference call held to discuss the acquisition, BTG Pactual's chief executive, André Esteves, said that it was part of a plan to be a "global player in the asset management arena." The $200 billion in combined assets under management as a result of the deal was "a critical mass to continue to grow globally," he said.
- ^ Rutishauser, Arthur. "Die neuen Herren der BSI und ihre Vergangenheit" (in German). Sonntagszeitung. Retrieved 10 January 2015.
Die Erleichterung war gross, als im Juni bekannt wurde, dass die Banca della Svizzera Italiana (BSI), die Vermögen in der Höhe von 91 Milliarden Franken verwaltet, einen neuen Besitzer hat. Er heisst BTG Pactual, kommt aus Brasilien und hat mit André Esteves einen höchst erfolgreichen Chef, der einst UBS-Angestellter war.
- ^ http://www.mas.gov.sg/News-and-Publications/Media-Releases/2016/MAS-directs-BSI-Bank-to-shut-down-in-Singapore.aspx