trending Market Intelligence /marketintelligence/en/news-insights/trending/mbju7fypredrqdu0id7wwq2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Swiss private bank Maerki Baumann secures German advisory license


Banking Essentials Newsletter, January edition - part 2

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Swiss private bank Maerki Baumann secures German advisory license

German financial market supervisory authority Bafin has granted a license to Switzerland-based private bank Maerki Baumann & Co. AG to advise clients in Germany under the so-called simplified exemption procedure, Finanz und Wirtschaft reported.

The procedure allows Swiss banks direct access to the German market without having local representation or using a German-licensed intermediary to acquire new clients in the country.

Maerki Baumann is the second Swiss asset manager to receive a license under the simplified exemption procedure, which Switzerland and Germany agreed upon in 2013 in a move to enhance their cross-border cooperation, the report noted. First to receive such license in late 2017 was Swiss investment fund Reichmuth & Co. Investmentfonds AG, according to Finanz und Wirtschaft.