Press Release
| February 5, 2008
Dewey & LeBoeuf Advises Bank Sarasin on Acquisition of Full Banking License for German Market
(Frankfurt am Main, February 5, 2008) - Dewey & LeBoeuf has advised the Swiss private bank Sarasin on the expansion of its German business and, in this connection, the acquisition of a full banking license for its German subsidiary, which is based in Munich. The license was issued by BaFin, Germany's financial services regulator, on January 30. At the same time Sarasin has opened another German branch in Frankfurt am Main, where it will operate under the name of Bank Sarasin AG. Its Munich branch will continue to do business.
Bank Sarasin AG is the successor institution to Sarasin Wertpapierhandelsbank AG, which was created from Sarasin's fund distribution company in 2005. It has total client assets under management of the equivalent of roughly €51 billion (as at the end of June 2007). Its parent company, which is majority-owned by the Dutch Rabo Group, has its headquarters in Basle.
Advisors to Sarasin
DEWEY & LEBOEUF (Frankfurt): Kai-Uwe Steck, Nicole Campbell
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
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