Baader Bank AG

From Wikipedia, the free encyclopedia
Baader Bank AG
Company typeAktiengesellschaft
FWB: BWB
ISINDE0005088108
IndustryInvestment banking
FoundedJuly 1, 1983; 40 years ago (1983-07-01)
FounderUto Baader
Headquarters
Unterschleißheim
,
Germany
Key people
  • Nico Baader (Board of Directors Chairman)
  • Oliver Riedel (Board of Directors Deputy Chairman)
  • Helmut Schreyer (Supervisory Board Chairman)
  • Georg Heni (Supervisory Board Deputy Chairman)[1]
Total assets€2.376 billion[1]
Number of employees
548 (across the group)[1] (2022)
Websitebaaderbank.de

Baader Bank AG is a German investment bank based in Unterschleißheim near Munich and is active in the trading of financial instruments. As a market maker with a full banking license, it is responsible for the pricing of over 800,000 securities, provides trading, account, custody, and ancillary services, and supports medium-sized companies with capital measures and IPOs. The bank is primarily active in Germany, Austria, and Switzerland. As of 2022, the bank had total assets of €2.376 billion and 548 employees across the Group.[1]

Baader Bank AG is a family-owned bank listed on the stock exchange.[2] It is a member of the Association of German Banks and part of its deposit protection scheme.[3] The group's headquarters are located in Unterschleißheim near Munich, additional locations are Frankfurt am Main and Stuttgart.

History[edit]

History as a stock exchange trading company[edit]

The starting point for the foundation of Baader Bank was the admission of Uto Baader, the bank's founder, to the stock exchange as a stockbroker in July 1983.[4] He initially managed the order books of three shares, the North American stocks of AT&T Corporation, COMSAT and Westinghouse Electric Corporation.[4] With the issuance support of DB-Soft AG, in 1993, Baader expanded its business activities beyond just order book management towards personal support for customers, which later developed into separate business divisions.[5] The acquisition of the listed Ballmaier & Schultz Wertpapier AG and the merger in 1998 gave rise to Baader Wertpapierhandelsbank AG. Baader Bank was thus admitted to the Frankfurt Stock Exchange.[3][6]

Business expansion[edit]

At the beginning of the 2000s, Baader Bank increased the frequency with which it purchased order books, further expanding order book management in German equities. It integrated the Stuttgart-based brokerage firm KST in 2000, Eckes Effektenhandel AG (Frankfurt) in 2001, and German Brokers (Frankfurt) in 2002.[7] Baader also acquired a stake in Heins & Seitz Capital Management GmbH (Munich) at the end of 2002.[8] In 2003, the order books of Gebhard & Schuster (Munich), the Frankfurt brokers Bargmann, Pfeiffer und Elsässer and the Düsseldorf brokerage house Spütz Börsenservice GmbH were added.[7] With the acquisition of Eckes, Baader Bank entered the institutional brokerage business.[5] The acquisition of Spütz meant an expansion of order book management for derivative products.[7] Deutsche Börsenmakler GmbH was acquired at the beginning of 2008. With this step, the company expanded its activities in traded securities classes to include exchange-traded funds. Between 1998 and 2008, the bank acquired around 20 companies, making it the market leader with a market share of 31% in Frankfurt floor trading.[9]

Conversion to a full bank[edit]

On 31 July 2008, Baader Wertpapierhandelsbank AG became the full-service bank Baader Bank AG. In October, the bank joined the Association of German Banks, and at the same time, became a member of its Deposit Protection Fund.[3] With the launch of the Xetra model on the Frankfurt Stock Exchange on 23 May 2011, Baader Bank acquired the 120 order books of the lead broker companies Bid & Ask Financial Services mbH (Nuremberg), Hordoff GmbH (Frankfurt) and Mercurius Handelsbank GmbH (Frankfurt).[10] In August 2013, Baader Bank acquired the Swiss equity broker Helvea with offices in Geneva, Zürich, London, Montreal, and New York City.[11]

Restructuring and further development[edit]

In July 2015, founder and owner Uto Baader handed over management of Baader Bank to his son Nico Baader.[12] After the bank registered losses, the following years saw restructuring and the consolidation of the group's structure through the disposal of strategically irrelevant units.[13][14]

Baader Bank began its expansion as a customer bank in 2018. Based on 25,000 securities accounts, a balance sheet of €700 million, and equity of €76 million, the number of securities accounts quadrupled within two years. At the end of 2021, there were just over half a million securities accounts. One year later, the number rose by 70% to 843,000, with the custody account volume reaching €15.7 billion. In June 2023, one million custody accounts were managed for the first time.[4]

References[edit]

  1. ^ a b c d "Annual Report 2022" (PDF). Baader Bank. 2023-05-31.
  2. ^ "Baader Bank verliert Millionen". Süddeutsche Zeitung (in German). 24 February 2019. Retrieved 3 December 2023.
  3. ^ a b c Baader, Nico (1 July 2015). "Langfristorientierung und antizyklisches Handeln". Die Bank – Zeitschrift für Bankpolitik und Praxis (in German): 8–10.
  4. ^ a b c Fröhlich, Christoph (21 June 2023). "Unterschleißheim: 40 Jahre Baader Bank: Wie Oliver Riedel das Kundengeschäft nach Europa ausbauen will". Das Investment (in German). Retrieved 3 December 2023.
  5. ^ a b Schütz, Christopher (2 July 2008). "Die Neuerfindung des Kommissionshandels". Börsen-Zeitung (in German) (125).
  6. ^ "Baader Wertpapierhandelsbank wechselt in den Amtlichen Handel". Frankfurter Allgemeine Zeitung (in German). 8 September 1998.
  7. ^ a b c Deibert, Volker (1 May 2003). "Baader-Bank sammelt Skontren – Auf Wachstumskurs in trüben Tagen". Going Public (in German).
  8. ^ "Indexspringer Baader erntet die Früchte der Kaufwut". Börsen-Zeitung (in German). 28 November 2003.
  9. ^ Benders, Rolf (21 February 2001): "Börsenmarkler Baader plant weitere Zukäufe". Handelsblatt (in German).
  10. ^ "Runter vom Pakett". Süddeutsche Zeitung (in German). 25 November 2010.
  11. ^ "Helvea-Gründer und CEO verlässt das Unternehmen". finews.ch (in German). 12 December 2013. Retrieved 3 December 2023.
  12. ^ "Nico Baader übernimmt Vorstandsvorsitz der Baader Bank". Going Public (in German). 12 May 2015. Retrieved 3 December 2023.
  13. ^ "Bankbilanz: Baader Bank löst Teile des Fonds für allgemeine Bankrisiken auf". Wirtschaftswoche (in German). 3 March 2020. Retrieved 3 December 2023.
  14. ^ Kroneck, Stefan (24 April 2021). "Erntezeit für den Chef der Baader Bank". Börsen-Zeitung (in German).
Retrieved from "https://en.wikipedia.org/w/index.php?title=Baader_Bank_AG&oldid=1212653414"