Like other banks last year, Zurich-based private bank Maerki Baumann also benefited from excellent market conditions. It also expanded its board.
Maerki Baumann doubled its profits in 2021 compared to the previous year, booking a net profit of 7.7 million Swiss francs ($8.4 million), the bank said in a statement.
The private bank led by CEO Stephan A. Zwahlen saw assets under management increase to 10.26 billion francs last year, up 19 percent. While the bank does not disclose the absolute amount of new money it attracted, it did say that 80 percent was attributable to Swiss clients and 8.5 percent to German clients.
Supervisory Board Expanded
Maerki Baumann also announced at the annual general meeting on April 11 that it expanded its board, appointing Joerg Zulauf as an additional member while also confirming the existing members. Zulauf most recently worked for the Federation of Migros Cooperatives in Zurich as Vice President of the General Management and Head of the Finance Department.
Prior to that, he worked in various management functions for the Basel-based pharmaceutical multinational Roche. The Chairman of the Institute is Hans G. Syz-Witmer, representing the owners family.
