Reichmuth & Co

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Reichmuth & Co
Company type private bank [1] [2]
IndustryFinancial 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]

Contents

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

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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.{{cite web}}: Missing or empty |url= (help)
  4. ↑ "Reichmuth & Co Privatbankiers: Private Company Information". Bloomberg Businessweek. Archived from the original on 24 June 2013. 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. ISBN   9781118238530 . Retrieved 7 June 2013.
  6. 1 2 3 Kresge, Naomi (14 December 2008). "Reichmuth Warns Investors of $330 Million in Madoff Losses". Bloomberg News. 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. ISBN   9781118238530 . 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 News. 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. ISBN   9780470826997 . 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. ISBN   9781899217090 . Retrieved 24 June 2013.{{cite book}}: CS1 maint: multiple names: authors list (link)
  14. ↑ Monty Agarwal (2009). The Future of Hedge Fund Investing: A Regulatory and Structural Solution for a Fallen Industry. John Wiley & Sons. ISBN   9780470557297 . Retrieved 7 June 2013.
  15. 1 2 3 Baldwin, Leigh (19 February 2011). "Reichmuth Plans New Funds to Replace Matterhorn, Luzerner Says". Bloomberg L.P. Retrieved 24 June 2013.
  16. ↑ "Ist das Ende des Euro nah?". 20 Minuten. 26 May 2010. Retrieved 24 June 2013.

47°03′00″N8°18′09″E / 47.0501°N 8.3025°E / 47.0501; 8.3025

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