IHAG

IHAG Private Bank[1] (commonly referred to as IHAG) is a Swiss private bank which specializes in asset management. Founded in 1949, by German-born industrialist Emil Georg Bührle, it's holding company currently also serves as Single Family Office to his descendants with AUM of over $4 billion (2023).[2][3]

IHAG Private Bank
Native name
Privatbank IHAG Zürich AG
Founded1949 (1949) as Industrie- und Handelsbank AG in Zürich, Switzerland
FounderEmil Georg Bührle
HeadquartersZürich, Switzerland
Key people
  • Christoph Mauchle (Chairman)
  • Martin Keller (CEO)
AUM$4.5 billion (2023)
OwnerAnda-Bührle family
ParentIHAG Holding Corp.
Websitepbihag.ch

In 2013, IHAG was a participant in the Swiss Bank Program, by the U.S. Department of Justice resolving criminal liabilities in the United States. They paid a penalty of over $7m in the resolution.[4][5]

History

In 1949, German-born industrialist Emil Georg Bührle, formed Industrie- und Handelsbank AG (English: Bank of Industry and Commerce, Inc.) in Zürich, Switzerland primarily to finance his own industrial investments and expansion plans of Oerlikon-Bührle and to preserve his assets for future generations. Later, the bank added services for external clients such as asset management and lending. In 1994, the name was changed, initially to IHAG Handelsbank Zürich and then ultimately to Privatbank IHAG Zürich.[6]

References
  1. AG, DV Bern. "Privatbank IHAG Zürich AG". Commercial register of canton Zurich. Retrieved 2023-08-27.
  2. "Family Offices: Die Geldmaschinen der Superreichen". Handelszeitung (in Swiss High German). Retrieved 2023-08-27.
  3. "Ist die IHAG Privatbank ein Auslaufmodell?". finews.ch (in German). 2013-04-22. Retrieved 2023-08-27.
  4. "Office of Public Affairs | Justice Department Announces Privatbank IHAG Zürich AG Reaches Resolution Under Swiss Bank Program | United States Department of Justice". www.justice.gov. 2015-11-24. Retrieved 2023-08-27.
  5. "Office of Public Affairs | Swiss Executive Pleads Guilty to Conspiracy to Defraud the IRS | United States Department of Justice". www.justice.gov. 2023-03-30. Retrieved 2023-08-27.
  6. "Visit us – About us". IHAG Privatbank. Retrieved 2023-08-27.
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