Banque Syz & Co, the Swiss bank saw its assets under management grow by 22% to €6.5bn ($8.39bn) in the year to March, boosted by the rapid growth of 3A, the bank's fund of hedge fund business.

The 3A operation is led by Jean Keller, former managing director of Lombard Odier Darier Hentsch. Its assets rose by 37% to around €1.2bn during its reporting year to the end of December. Money managed for private banking clients rose by 27% and Syz's other investment products, marketed under the Oyster name, grew in size by 18%.