Swiss private banking and fund management firm Reyl & Cie is looking to make small private banking acquisitions, given the likelihood of sector consolidation, its chief executive told Reuters in an interview.

"We are talking about small fund management companies or small banks which we could integrate onto our platforms, as well as looking at the possibility of independent asset managers who could join us," chief executive Francois Reyl told the newswire.

Mr Reyl said the firm will target companies with between SFr100 million ($92.2 million) and SFr500 million of assets under management. He said Reyl & Cie currently had SFr2 billion of assets under management.

"We've had positive inflows in private banking, while we continued to have outflows and redemptions at our asset management business up to February, but we're in the process of winning back money in the asset management arm," he was quoted as saying.

The firm has never signed a takeover deal but Mr Reyl said industry change prompted a new search for opportunities.

"We're interested by these consolidation opportunities generated by the current dislocation in the financial sector. Prior to the current crisis, opportunities for deals were rare and they were often expensive. But now, valuations have fallen sharply and the pressure to consolidate has increased, creating some attractive opportunities," he said.

Reyl & Cie was founded in 1988 by the chief executive’s father, Dominique Reyl. His family still has the majority share in the company.