Swiss private bank Banque Syz SA has experienced internal family strife due to disagreements over its cryptocurrency strategy, leading to the departure of the founder's son.

Techub News, according to Bloomberg, the Swiss private banking family Syz is caught in a generational rift over differing views on the company's future direction. Marc Syz and his business partner Richard Byworth have left Banque Syz SA, which was founded by his father Eric in Geneva. This follows a disagreement over plans to incorporate the cryptocurrency custody firm Future Holdings AG into the bank's alternative asset division, Syz Capital. Marc Syz, who previously led that division, is now focused on pursuing a dual listing for Future Holdings, which he claims will become Europe's largest Bitcoin custodian.

Syz Capital was established in 2018 under Marc's leadership. By the time of his departure, its assets under management had grown to approximately 2 billion Swiss francs ($2.5 billion), despite some outflows since then. The remaining team members at Syz Capital have stayed on, led by Syz Group's Chief Financial Officer Christoph Raninger. However, the bank has recently seen other departures, including that of Chief Operating Officer Boris Chave.