DAB Bank AG : SRQ FinanzPartner AG to be sold to Aragon AG

DAB bank’s B2B unit will further expand the business relationship with the financial advisory services company
Munich, October 04, 2011.
DAB bank AG has signed an agreement with Aragon AG, Wiesbaden, for the sale of the former’s entire majority interest in SRQ FinanzPartner AG (SRQ). Aragon AG will purchase the 82.25% equity interest in the independent financial services provider that had formerly been held by DAB bank and the remaining shares will remain in the hands of the management and financial planners of SRQ. The purchase agreement is pending, subject to the approval of regulatory agencies, which the parties expect to be given in the course of the fourth quarter. The parties have agreed to keep the terms of the purchase agreement secret.
“DAB bank is focusing strategically on its two core business segments of individual investors (B2C) and independent financial services providers (B2B). We are ideally equipped to provide financial advice within our own organization. Our individual investors can obtain telephone advice from our Private Banking Team or, if they so wish, they can delegate all decisions concerning their financial affairs to one of our partners in the B2B segment,” said Markus Gunter, Speaker of the Management Board of DAB bank. “We will continue to expand our cooperation with SRQ as a B2B partner after the sale of this company.”
About DAB bank AG
DAB bank (www.dab-bank.de) is a direct bank specializing in securities-related services, which operates in Germany and (through its subsidiary direktanlage.at) in Austria as well. It serves individual investors and independent providers of financial services.
At June 30, 2011, the DAB bank Group administered a total of 621,128 securities accounts and customer assets worth a total of €27.08 billion. Headquartered in Munich, DAB bank was founded as Germany’s first discount broker in 1994.