Zurich-based private bank Maerki Baumann & Co. AG is planning to establish a Middle East branch in Abu Dhabi. According to a press release, the bank will apply for a licence from the Abu Dhabi Global Market free trade zone.
The new Middle East hub will focus on technology clients in the Gulf region using blockchain technology and crypto applications. The move builds on the family firm's expertise and experience in digital assets, recently consolidated under the crypto brand "ARCHIP". Maerki Baumann has appointed Andreas Fröhlicher, its long-standing Head of Legal & Compliance, as Head of the Abu Dhabi office.
Expansion from the Crypto Valley to the Middle East
The Board of Directors and Management of Maerki Baumann & Co. AG have decided to open a branch in Abu Dhabi. For this purpose, the process of obtaining a licence in the free trade zone Abu Dhabi Global Market has been initiated. The newly created "Middle East Hub" will focus on the niche market of local tech clients using blockchain technology and crypto applications, as well as the entrepreneurs behind them. Services will be provided by the existing Tech Banking department in Zurich, which has extensive expertise in supporting tech clients and personalities from the crypto community.
"Our presence in Abu Dhabi will allow us to tap into the significant potential of the dynamic Middle East market. We look forward to sharing our knowledge and experience of supporting over 500 technology clients by making our trusted banking services available to the local crypto community." - Stephan A. Zwahlen, CEO of Maerki Baumann
Crypto services for banks
The Middle East hub will operate under the "ARCHIP" brand, which Maerki Baumann launched in March 2024. ARCHIP encompasses all of the bank's crypto services, including trading, custody, staking and management of digital assets for private and institutional clients, as well as comprehensive payment processing, liquidity management and investment advisory services for technology companies.
Andreas Fröhlicher, a 48-year-old Swiss lawyer and long-standing Head of Legal & Compliance at Maerki Baumann, has been appointed to head the Abu Dhabi office and will serve as Senior Executive Officer overseeing the Middle East hub. Since the launch of the crypto strategy in 2019, Fröhlicher has played a key role, including handling several hundred client due diligences for clients with a crypto background. He expressed his enthusiasm for his new role.
"Maerki Baumann will benefit from my extensive experience in advising clients with a crypto background in the Middle East. My previous role at the private bank, my personal connections to the head office in Zurich and my international experience will be instrumental in establishing the Middle East hub." - Andreas Fröhlicher, Head of Middle East Hub