Reichmuth & Co is a Swiss private bank that was founded in Luzern, Switzerland, in 1988.[4][5][6] It was the first private bank created in Switzerland in 80 years.[7] Its general partners are Karl Reichmuth (President, since 1996),[8] Christof Reichmuth (CEO and CIO; Karl Reichmuth's son),[8][9][10] and Juerg Staub.[8][11] As of 2012, it was one of 12 unlimited liability bank members listed by the Swiss Private Bankers Association.[12] It is a prominent major player among Swiss hedge funds.[13]
Through its Reichmuth Matterhorn fund, it lost $330 million in four hedge funds invested with Bernie Madoff.[6][14] In December 2008, the fund totaled approximately $3.9 billion, according to chief executive officer Christof Reichmuth, who said: "It’s unbelievable that no auditor, no administrator, no fund manager noticed this fraud. We will have to wait to find out how that was possible."[6] In spite of these losses, Matterhorn returned around 7 percent a year over 13 years.[15]
In 2010, it managed more than CHF 8 billion (Swiss francs), about 25 percent in foreign assets.[15] That year, the company's Chairman predicted that in two or three years the monetary union built around the Euro would break apart.[16]
In 2011, it was planning to set up new funds to replace the Matterhorn Fund, which was being dissolved.[15]
In 2013, it had CHF 8 billion (Swiss francs) under management.[3]
