Reichmuth & Co

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]

Reichmuth & Co
Typeprivate bank[1][2]
IndustryFinancial industry
FoundedLuzern, Switzerland, 1988
Headquarters
Luzern
,
Switzerland
Key people
General partners: Karl Reichmuth, Christof Reichmuth, and Juerg Staub
AUMCHF 8 billion (Swiss Francs) under management (2013)[3]
Websitewww.reichmuthco.ch

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. "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. 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. 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. 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.

47.0501°N 8.3025°E / 47.0501; 8.3025

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