Despite a challenging business environment owing to the COVID-19 pandemic, the REYL Group reported 2020 financial results characterised by a sharp increase in assets under administration and the continuation of its ambitious investment programme in impact investing (Asteria Obviam) and digital banking (Alpian). The conclusion of a strategic partnership with the Fideuram - Intesa Sanpaolo banking group in October 2020 also marked the beginning of a new and promising chapter for the Group.
As at 31 December 2020, the REYL Group reported CHF 15.5 billion in assets under administration (+14%), of which CHF 1.5 billion was in net new assets, together with operating income of CHF 91.7 million (+1%) and consolidated net profit of CHF 6.2 million (-25%). The drop in consolidated net profit was mainly due to the investment expenses related to the development of the Group’s global sales force, the setting up of a comprehensive team at Asteria Investment Managers and the assumption of advisory costs in the context of the Fideuram - Intesa Sanpaolo and Obviam AG strategic partnerships. The Tier 1 ratio stood at 18%.
In addition, the Bank’s subsidiaries in Switzerland and abroad confirmed their improved profitability. On a consolidated basis, their assets under administration grew sharply to CHF 3.9 billion (+22%), with the largest increases coming from REYL Finance MEA in Dubai (+CHF 372 million, +24%) and REYL Overseas AG in Zurich, which specialises in advising US clients under an SEC licence (+CHF 72 million, +24%). The Group continued to attract new talent, with a 245-strong workforce at the end of 2020, up 9% year-on-year.
In 2021, the Group intends to pursue its transversal development into impact investing, with Asteria Investment Managers and Obviam called to become a leading Swiss player managing both listed and private assets, as well as into digital banking for mass-affluent clients with Alpian, which recently finalised a B series fundraising of USD 18 million.