The operation is among a cluster of foreign organizations now catering to expat US individuals who can struggle to obtain financial services abroad.

US-licensed REYL Overseas, which is based in Zurich with an office in Dallas,Texas, has appointed René Marty as its chief executive; he has come across from a similar business at UBS. Marty replaced Romain Krief, a spokesperson for the firm told this publication today.

The REYL organization gives investment advisory services to US clients, a group that can often struggle to obtain offerings abroad because draconian US tax rules deter foreign financial institutions from taking such clients on board. REYL Overseas Ltd is registered with the Securities and Exchange Commission as an investment advisor.

Marty has over 25 years of experience in the financial industry, most of which was spent dealing with North American clients. He served as managing director and chief executive of UBS’s SEC-licensed subsidiary, Swiss Financial Advisers, from 2009 to 2017. 

Recent years have seen a number of financial groups, such as London & Capital, Royal Bank of Canada, MASECO, Union Bancaire Privée and Schroders make a virtue of serving expat US citizens. The US Foreign Account Taxation Compliance Act, or FATCA, enacted in 2010, is seen as a major culprit. The law requires foreign financial institutions to show that their US clients are compliant or else they have to pay a withholding tax.