Private banking propelled assets at Switzerland's Syz & Co up 53% to €14.6bn ($19.5bn) last year, as the wealth manager said it would continue to focus on growing the business.

A larger range of products also drove the rise in assets under management, which increased from €9.5bn in 2005. The private banking business accounted for €7.8bn of this increase, compared to a contribution of €6bn a year before.