Another milestone on the way to expanding the bank into new business areas
RENELL received the licence for financial portfolio management from the German Federal Financial Supervisory Authority (BaFin) on 24 June 2021. This means that the new business segment can be launched before the end of this year. The Bank will launch two funds at the beginning, the planning of which is already very advanced.
“The expansion of the bank with new business areas is taking more and more concrete shape, we are pleased to have reached this milestone.” – Marc Renell, former CEO
RENELL was founded in Frankfurt in 1985 and has been an owner-managed Wertpapierhandelsbank ever since. It is authorised and regulated by BaFin, Deutsche Bundesbank and FINMA (Switzerland). The bank is also a member of the Compensatory Fund of Securities Trading Companies (EDW). The original main business segment was price fixing in securities (shares, bonds, funds) on stock exchanges. Since 2020, the bank has focused on corporate finance and now also financial portfolio management. The funds planned at the beginning will be aimed primarily at institutional investors with a specialised investment strategy.