Bantleon wants to become more flexible and returns banking licence
Bantleon Bank AG in Switzerland gives up its banking licence and will operate under the name of Bantleon AG in the future.»Financial markets are facing exciting years to come, which we want to use very actively. That is why we have taken the move from Zug to Zurich as an opportunity to review our organisational structures. During that process, it has become clear that as an asset manager without a classic banking business, we no longer need the banking licence, which costs flexibility,« explains Jörg Bantleon, Chairman of the Supervisory Board. In future, asset management will be carried out under a licence as a manager of collective assets, which is also subject to supervision by FINMA.
Bantleon had held the banking licence in Switzerland since 1998. At that time, there was no other truly qualified licence for a financial institution. »With equivalent supervision, we were able to meet our clients’ needs on eye level, especially with regard to controlling and risk management requirements of German financial institutions, which have been closely associated with us for many years,« Jörg Bantleon notes. »Today, reliable risk management and controlling are standard in institutional asset management, which is why we no longer need the banking licence.«