Reichmuth & Co

Reichmuth & Co
private bank[1][2]
Industry Financial industry
Founded Luzern, Switzerland, 1988
Headquarters Luzern, Switzerland
Key people
 General partners: Karl Reichmuth, Christof Reichmuth, and Juerg Staub
AUM CHF 8 billion (Swiss Francs) under management (2013)[3]
Website www.reichmuthco.ch

Reichmuth & Co is a Swiss private bank that was founded in Luzern, Switzerland, in 1988.[4][5][6] It was the first private bank created in Switzerland in 80 years.[7] Its general partners are Karl Reichmuth (President, since 1996),[8] Christof Reichmuth (CEO and CIO; Karl Reichmuth's son),[8][9][10] and Juerg Staub.[8][11] As of 2012, it was one of 12 unlimited liability bank members listed by the Swiss Private Bankers Association.[12] It is a prominent major player among Swiss hedge funds.[13]

Through its Reichmuth Matterhorn fund, it lost $330 million in four hedge funds invested with Bernie Madoff.[6][14] In December 2008, the fund totaled approximately $3.9 billion, according to Chief Executive Officer Christof Reichmuth, who said: "It’s unbelievable that no auditor, no administrator, no fund manager noticed this fraud. We will have to wait to find out how that was possible."[6] In spite of these losses, Matterhorn returned around 7 percent a year over 13 years.[15]

In 2010, it managed more than CHF 8 billion (Swiss Francs), about 25 percent in foreign assets.[15] That year, the company's Chairman predicted that in two or three years the monetary union built around the Euro would break apart.[16]

In 2011, it was planning to set up new funds to replace the Matterhorn Fund, which was being dissolved.[15]

In 2013, it had CHF 8 billion (Swiss Francs) under management.[3]

See also

References

  1. ↑ "Die Clariden-Leu-Frage: Sind alte Banken wirklich besser?". Finews.ch. 17 May 2012. Retrieved 24 June 2013.
  2. ↑ Andreas Flütsch. "Schweizer Banken drohen Millionenverluste – News Wirtschaft: Unternehmen". bazonline.ch. Retrieved 24 June 2013.
  3. 1 2 "Facts and Figures – Privatbankiers Reichmuth & Co – Integral Investment Management – CH-Lucerne". Reichmuthco.ch.
  4. ↑ "Reichmuth & Co Privatbankiers: Private Company Information". Business Week. Retrieved 7 June 2013.
  5. ↑ Henri B. Meier; John E. Marthinsen; Pascal A. Gantenbein (2012). Swiss Finance: Capital Markets, Banking, and the Swiss Value Chain. John Wiley & Sons. Retrieved 7 June 2013.
  6. 1 2 3 Kresge, Naomi (14 December 2008). "Reichmuth Warns Investors of $330 Million in Madoff Losses". Bloomberg. Retrieved 7 June 2013.
  7. ↑ Henri B. Meier; John E. Marthinsen; Pascal A. Gantenbein (2012). Swiss Finance: Capital Markets, Banking, and the Swiss Value Chain. John Wiley & Sons. Retrieved 24 June 2013.
  8. 1 2 3 Aussichten (4 February 2012). "Kutteln, Kümmel und Cowboys". SonntagsZeitung. Retrieved 24 June 2013.
  9. ↑ Baldwin, Leigh (19 February 2011). "Reichmuth Plans New Funds to Replace Matterhorn, Luzerner Says". Bloomberg. Retrieved 24 June 2013.
  10. ↑ Christiane Pütter (27 January 2011). "15 Monate Projektlaufzeit: Back Office auf neue Plattform migriert". CIO.de. Retrieved 24 June 2013.
  11. ↑ "Reichmuth & Co – General Partners – Privatbankiers Reichmuth & Co – Integral Investment Management – CH-Lucerne". Reichmuthco.ch. Retrieved 7 June 2013.
  12. ↑ Boris F. J. Collardi (2012). Private Banking: Building a Culture of Excellence. John Wiley & Sons. Retrieved 24 June 2013.
  13. ↑ Humayon A. Dar,, Umar F. Moghul (2009). The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance. Retrieved 24 June 2013.
  14. ↑ Monty Agarwal (2009). The Future of Hedge Fund Investing: A Regulatory and Structural Solution for a Fallen Industry. John Wiley & Sons. Retrieved 7 June 2013.
  15. 1 2 3 Baldwin, Leigh (19 February 2011). "Reichmuth Plans New Funds to Replace Matterhorn, Luzerner Says". Bloomberg. Retrieved 24 June 2013.
  16. ↑ "Ist das Ende des Euro nah?". 20 Minuten. 26 May 2010. Retrieved 24 June 2013.

Coordinates: 47°03′00″N 8°18′09″E / 47.0501°N 8.3025°E / 47.0501; 8.3025

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