Haron Holding, a company controlled by Luca Pesarini and his wife, has agreed to buy Mainfirst Bank, which is based in Frankfurt. Pesarini is a Swiss fund manager based in Wollerau.

Haron holds 73.9 percent of the Mainfirst shares, according to a statement today. The staff of the bank own a further 21.7 percent. The bank has about 180 employees based in Frankfurt, London, Luxembourg, Milan, Munich, New York, Paris and Zurich.

Acquisition Offer in November

Pesarini in November 2016 offered to buy Mainfirst through his Haron Holding firm. He had acquired a first stake of 22 percent in July 2014 from Patrick Bettscheider, one of the founders of the bank.

Thomas Emde, Mainfirst’s chairman, has resigned from his post following the takeover by Haron Holding.

Founder of Ethenea

Pesarini is chairman and co-owner of Ethenea, a fund manager mainly active in Germany. He manages the Ethenea Aktiv fund.

Though based in Switzerland, Pesarini is better known in Germany than in Switzerland. He used to be in charge of Julius Baer Germany, before founding Ethenea. He has also worked in the institutional business of Dresdner Bank and Bear Stearns.