MBaer Merchant Bank does not consider itself a traditional private bank. However, founder Michael Bär sometimes remembers the principles of his great-grandfather. This approach clearly appeals to many in the banking industry.
Michael «Mike» Baer has an old booklet from his great-great-grandfather Julius Baer, the founder of the private bank of the same name. He can only recommend his professional colleagues to browse through it. Of course, it has little to do with today's banking, yet it still conveys traditional values.
Mike Baer does not fit the image of many banks today; nor does he want to. However, one should never make the mistake of talking about a «holistic approach» in his presence.
Terrible Term
«I don't like this term. It's terrible. What we are doing here is still classic banking,» he says in an interview with finews.com. He measures the success of a financial institution by its profitability and not by the amount of assets under management.
He expects this thinking from his employees too. In 2018, after several stints at various institutions at home and abroad, he and other companions opened their own financial institution: MBaer Merchant Bank.
«We Can Do It Better»
The firm sees itself as an institution for entrepreneurs, their families, and their companies. «In conversations, we have repeatedly found a great need for a bank where personal and individual contact is paramount.
Customers want to talk to decision-makers and not to an anonymous institution,» says Baer, emphasizing: «We want to prove that we can do it better.»
Not An Easy Start
In addition to classic private wealth management, the bank offers custody, transaction banking for corporate clients, and treasury services. This underscores Mike Baer's professional credo that finance beyond traditional wealth management can also be innovative. The clientele consists mainly of Swiss entrepreneurs and wealthy families based in Switzerland.
The start of his institution was not easy due to the Corona pandemic. Meanwhile, the bank is sailing in calmer waters. MBaer Merchant Bank's strengths lie in founding, developing, and strategically aligning companies. Baer is quite proud of his track record: «We have made many entrepreneurs millionaires over the past five years,» he says.
More Than 600 Applications For Each Position
In addition to corporate business, wealth management is becoming increasingly important. «This is picking up. We see a clear demand for such services,» he explains.
As an employer, MBaer Merchant Bank has also positioned itself well. Around 600 people apply for each job posting. Baer is selective in his choices. The guidelines can be found in the notes of his great-great-grandfather.