Eager to set up an efficient investment bank for those in Asia Pacific, the UK and Europe, he says this venture was designed to address Japanese institutional clients, such as pension funds and insurance companies, in order to provide them with sophisticated solutions around their balance sheet.
At Sanwa International, he held roles such as board director, chief operating officer and head of investments and trading, responsible for building and managing all business activities across the two regions.
He says: “With my background it was natural for me to do that. But we also created an internal hedge fund, which I then took and started my own hedge fund and fund of hedge funds company.
“That took the next eight to nine years. It was mostly institutional investors with some big family offices, multi-family offices and ultra-high net-worth clients, but it was all through private banks as they were acting as a distributor for my funds.”
Syed says this gave him exposure to the private banking and wealth space, and after his business merged with other institutions, he set up a multi-family office and became chief executive.
“I was scaling it until I realised that, ultimately, to help big families you need a much bigger platform on a much bigger scale. And that’s when I came to Coutts.”
Founded in 1692 by John Campbell, a young, Scottish goldsmith from Lundie, Coutts has a rich history, reflected in the firm’s values today. When founded it was known as The Three Crowns in Strand. It was then rebranded as Bankers of 59 Strand in 1739, renamed James and Thomas Coutts in 1761 before assuming the name Coutts & Co in 1822 when Thomas died.
While founder Campbell’s customers were all fellow countrymen to whom he supplied plate and jewellery, the earliest records suggest he also offered a banking service, which included discounting bills, making loans and taking deposits.
The firm assumed its royal association when Queen Anne commissioned Campbell to make the gold collars and badges for the Order of the Thistle, a group consisting of the sovereign and 16 knights and ladies, founded by James II (and VII of Scotland) in 1687.
With its rich history, established brand, high-calibre clients and platform, Syed says Coutts was his ideal when he was looking for a new role.
Upper hand
“Coutts is probably the best platform in the UK to address family related needs. We have deep expertise around family succession, plans, family governance structures, but also aiding families who want to set up foundations and legacies,” he adds.
At Coutts, Syed oversees direct private equity and real estate investments, family succession, philanthropy services, tax and wealth structuring. Running all these engines, Syed says he is responsible for the overall management of “where we invest, how we invest and the process behind it”.
He says: “My experience in investing from a global perspective, as well as having dealt with big ultra-high net-worth families and the needs they have, is all part of the reason why I came to Coutts.”
Syed believes Coutts has a clear competitive advantage over its peers. “Many non-clients think we’re just a bank, when actually it’s much more than that.”
He says Coutts has invested in technology, portfolio management and assessing market inflation. “Sometimes that doesn’t get translated to the industry, and often it’s because there’s a preconceived perception of what Coutts is.”
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