Zurich-based private bank Maerki Baumann has named a new head of its private banking business for Germany.
Roger Arnet, currently deputy head of private banking in Germany for Zurich-based Maerki Baumann private bank, is stepping up to become the head of the business on January 1, the company said in an emailed statement Friday.
Arnet takes over from Gerald Lulei who is retiring from the operational aspect of the business as planned but will remain as head of the lawyers and trustees department.
Arnet joined the firm in 2018 as a member of the management year, serving as deputy head of the German business for the past two years. He brings 25 years of experience in German business at Swiss private banks, including DZ Privatbank (Schweiz) AG and Union Bancaire Privée SA in Zurich.
Important Market
In announcing the appointment, Maerki Baumann's CEO Stephan A. Zwahlen said «The German market has always been the most important foreign market for Maerki Baumann. Roger Arnet stands for continuity in the support we provide to our German customers.» The firm serves clients all over Germany, with an emphasis on Hamburg, Rhineland, Rhine-Main-Neckar, and the greater Stuttgart and Munich areas.
Maerki Baumann had a simplified exemption from the German Federal Financial Supervisory Authority (BaFin) since September 2018. This arrangement allows the bank to serve both private and institutional clients domiciled in Germany from Switzerland and also to add new clients.
Brother and Sister
Maerki Baumann is in the hands of the second generation of the family with siblings Hans G. Syz-Witmer and Carole Schmied-Syz acting as Chair and Vice-Chair of the Board of Directors respectively. Together they own about 95% of the shares.
The firm has 10.3 billion Swiss francs under management and a Tier1 capital ratio of 27.4 percent.
