Dieter Enkelmann, former CFO of Bär Bank, has taken a seat on the board of Aquila Swiss Wealth Partners, a partner of Aquila Group. This move brings attention to the Aquila Group, which has been in the spotlight due to a contentious legal case in London. Enkelmann’s involvement with Aquila Swiss Wealth Partners raises questions about the bank’s actions and its association with key individuals.
Aquila Swiss Wealth Partners was originally founded by a couple who came from Pictet and aimed to attract clients, particularly from the Middle East, to a different Zurich-based financial boutique. However, they quickly left that boutique to join their own venture, Alpique Swiss Wealth Partners, which became part of the Aquila network.
This decision led to a heated dispute with lawsuits on both sides, and the two founders of Alpique Swiss Wealth Partners disappeared from the company. Now, Enkelmann, the long-time ruler of Bär Bank’s finances, has joined the board of the new Aquila partner.
The article also mentions Gilles Stuck, a credit structurer at Bär Bank, and his photo appearing in a report and advertisement for the bank. It raises concerns about the bank’s actions and its connection to individuals like Stuck and Enkelmann, who played a significant role in financing real estate ventures, including those of René Benko.
The article highlights potential financial losses for Bär Bank, estimating them to be around 800 to 900 million Swiss francs. It also raises concerns about the bank’s organizational structure and loan control, suggesting that loans were overseen by Enkelmann instead of the Chief Risk Officer, in violation of regulatory guidelines.
The involvement of Enkelmann and the implications for Bär Bank’s finances have drawn attention to the bank’s management, including Evie Kostakis, Enkelmann’s successor as CFO, and Luigi Vignola, Head Markets in the bank’s management. The article suggests that significant changes have not been made to the inherited organizational structure, where loans like those to Benko are approved and monitored by the finance department instead of the risk department.
In conclusion, Enkelmann’s involvement with Aquila Swiss Wealth Partners and the ongoing scrutiny of Bär Bank’s actions have brought attention to the Aquila Group and raised questions about the bank’s organizational structure and loan control.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Julius Bär, Evie Kostakis, Risk, Kairos, Luigi Vignola |
| Currencies | None |
| Securities | None |
