Frankfurt/Main, 24 April 2017 - MainFirst has established a long-term stable shareholder structure and, with Haron Holding, a new majority shareholder. Existing MainFirst shareholders have sold 24.5 per cent of MainFirst Holding registered shares to Haron Holding - in addition, Haron Holding is acquiring 4.5 per cent of MainFirst Holding AG´s treasury shares. The closing of the transaction took place on 21 April 2017, having obtained all required regulatory consents. Haron Holding, which previously controlled 44.9 per cent of the share capital of MainFirst Holding, now owns 73.9 per cent of the share capital.
MainFirst secures long-term stable shareholder structure through Haron Holding
Management and Partners of MainFirst welcome this commitment on the part of Haron Holding. Andreas Haindl, CEO of MainFirst Bank AG, regards this as an important step in order to further develop MainFirst´s successful business model: "With Haron Holding we have taken on board an anchor investor who is positive for the future development of MainFirst. Part of our management strategy has been to establish a long-term shareholder structure around our key employees. We have succeeded in this since 2014, with Haron and at the same time by broadening the Partner group, making it younger and more international." With a shareholding of 21.7 per cent, MainFirst staff continue to be significant shareholders in the firm - employee participation remains an important element for MainFirst. "In all of this, it has been important for us to maintain the entrepreneurial DNA of the firm", Haindl emphasises.
MainFirst enjoys excellent business prospects
Haron has been a significant shareholder in MainFirst since 2014 and supports the firm´s strategy. Over the past few years, MainFirst has strengthened its positioning as a European capital markets firm with a focus on active outperformance and alpha generation for its clients - in the Equities division as well as in Asset Management. "In Equity Brokerage, we have gained further market share", Haindl states. "Our success as a European equity brokerage firm is rooted in the high quality of our research with a focus on German, Swiss, French and Italian mid- and large-cap stocks." MainFirst has further sharpened its profile in this area - not least in preparation for MiFID II. "We have also further expanded our Asset Management division with high-calibre hirings. Thomas Meier has added to our range of equity strategies - and Bjoern Esser and his team represent outstanding expertise in multi asset/absolute return", adds Haindl. In addition, MainFirst has expanded into asset servicing with the Luxembourg investment management company MainFirst Affiliated Fund Managers S.A.
Ideal timing for a change in the chairmanship
Against the background of the financial strength and the stability of the firm, Chairman Thomas Emde considers this the right time for a change in the chairmanship of the supervisory board and the board of directors. Therefore, Emde, who has been Chairman of both the supervisory board of MainFirst Bank AG and the board of directors of MainFirst Holding AG since the foundation of the firm in 2001, has chosen to leave both of these roles when his current terms of office expire at the annual general meetings in Q2 2017. He will remain a legal advisor to the firm. "Following the mutually agreed acquisition of the majority by Haron Holding and after 15 years in the role of Chairman, the ending of my current tenure as Chairman of the supervisory board marks the right time for me to relinquish my roles", says Thomas Emde. "I am very confident that MainFirst is positioned well for the future and will continue to develop in a very positive way. I have tremendously enjoyed supporting this extraordinary entrepreneurial achievement and success story since helping to set it up in 2001."
"Thomas Emde has made very important contributions to the establishment and expansion of MainFirst over the years", Andreas Haindl comments. "On behalf of the whole MainFirst team I should like to extend our sincere thanks to Thomas Emde, for his outstanding commitment and his forward-looking support of our bank and the management team since our foundation in 2001. I wish him all the best for the future."
MainFirst, founded in 2001, is an independent European capital markets firm, specialising in equity brokerage, equity capital markets and asset management. The company employs approx.180 staff in locations in Frankfurt, London, Luxembourg, Milan, Munich, New York, Paris and Zurich.
MainFirst Equity Brokerage is one of the leading independent, European institutional equity research and brokerage firms. 35 research analysts cover approx. 260 German, Swiss, French and Italian mid- and large-cap stocks. The focus is on "high alpha"-generating ideas which need not be consensual. The multi-local approach facilitates particular proximity to both European corporates and investors.
MainFirst Asset Management pursues a multi boutique approach and is focussed on investment strategies in the asset classes equities, fixed income and multi asset/absolute return. Experienced portfolio management teams develop strategies with high active share and individual investment processes. This is combined with the clearly defined procedures of an established international platform. The firm manages both mutual funds and tailor-made segregated mandates.
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