Hedge Fund News From HedgeCo.Net


German Hedge Fund Manager Becomes Fully Operational Bank

West Palm Beach (HedgeCo.Net) – Baader Wertpapierhandelsbank AG has been granted membership to the Compensation Fund of German Banks (EdB) by the German Financial Supervisory Authority (BaFin).

Once the entry into the commercial register has been completed, the institution will be known under its corporate name, Baader Bank AG.

"Receiving the full banking licence is a significant sign of the faith that is placed in the capability of our bank’, commented Uto Baader, Chairman of the Baader Board of Directors.

The bank operates as an all-round service provider for asset managers and other institutional customers as well as an arranger of financial innovations. The main products and services provided by the bank include certificates, publicly offered funds, single hedge funds and funds of hedge funds as well as managed accounts.

Baader Service Bank currently has 26 employees and reported net profit of EUR 0.56 million ($1 million) with total assets of EUR 53.3 million ($83.2 million) in 2007.

Alex Akesson
Editor for HedgeCo.Net
Email: alex@hedgeco.net

HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
Be sure to check out our sister sites. www.hedgefundlounge.com, www.hedgefundtools.com, and www.hedgefundemployment.com

 

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Hedge Fund Launches and tagged , , , , , , , . Bookmark the permalink.

Comments are closed.