Markus Pfenninger
Dr. iur., LL.M., Attorney at Law
Partner

Markus Pfenninger Markus Pfenninger Markus Pfenninger Markus Pfenninger


Markus Pfenninger is a partner in the Banking & Finance Team. His fields of expertise include capital market transactions, mergers & acquisitions, finance, restructurings, collective investment schemes as well as banking and insurance regulatory matters. He is a member of the International Bar Association’s (IBA) Task Force on the Financial Crisis and a past chair of the IBA’s Subcommittee on Legal Opinions as well as a past co-chair of the IBA’s Banking Law Committee.

Born in 1963, Markus Pfenninger was awarded a Ph.D. from the Law School of the University of Zurich and was admitted to the bar in Zurich in 1991. He received an LL.M. from the Morin Center of Banking Law Studies, Boston University. He has working experience as foreign associate in a Boston financial management company and in a law firm.

Markus Pfenninger speaks German, English and French. He is registered with the Zurich Bar Registry and admitted to practice in all Switzerland.

Contact
Markus Pfenninger
Direct phone: +41 58 658 55 34


Walder Wyss Ltd.
Seefeldstrasse 123
P.O. Box
8034 Zurich
Switzerland
Phone +41 58 658 58 58
Fax +41 58 658 59 59
vCard


Practice Areas


 
 
 

 
 
 
 
 
 

Markus Pfenninger Markus Pfenninger Markus Pfenninger Markus Pfenninger

Markus Pfenninger
Dr. iur., LL.M., Attorney at Law
Partner

Markus Pfenninger is a partner in the Banking & Finance Team. His fields of expertise include capital market transactions, mergers & acquisitions, finance, restructurings, collective investment schemes as well as banking and insurance regulatory matters. He is a member of the International Bar Association’s (IBA) Task Force on the Financial Crisis and a past chair of the IBA’s Subcommittee on Legal Opinions as well as a past co-chair of the IBA’s Banking Law Committee.

Born in 1963, Markus Pfenninger was awarded a Ph.D. from the Law School of the University of Zurich and was admitted to the bar in Zurich in 1991. He received an LL.M. from the Morin Center of Banking Law Studies, Boston University. He has working experience as foreign associate in a Boston financial management company and in a law firm.

Markus Pfenninger speaks German, English and French. He is registered with the Zurich Bar Registry and admitted to practice in all Switzerland.

 
 
 

 
 
 
 
 
 

Markus Pfenninger
Direct phone: +41 58 658 55 34

Walder Wyss Ltd.
Seefeldstrasse 123
P.O. Box
8034 Zurich
Switzerland
Phone +41 58 658 58 58
Fax +41 58 658 59 59


vCard

Practice Areas Publications

Basler Kommentar zu Art. 2, 6, 20–23, 30–32 Kollektivanlagegesetz (KAG)(Commentary to Art. 2, 6, 20–23, 30–32 of the Collective Investment Schemes Act, CISA)

by Markus Pfenninger
co-authored by Martina Nüesch
in: Bösch/Rayroux/Winzeler/Stupp (Editor[s]), "Basler Kommentar zu Kollektivanlagegesetz (KAG)"
2. Auflage, Basel 2016


Kommentar zu Art. 821–826 des Schweizerischen Obligationenrechts(Commentary to Art. 821–826 of the Swiss Code of Obligations)

by Markus Pfenninger
in: "Handkommentar Schweizerisches Obligationenrecht"
3. Auflage, Zurich 2016, pp. 2121–2132





Hedge Funds in Switzerland

co-authored by Markus Pfenninger and David Borer
in: Florentino Carreno et al. (Editor[s]), "Hedge Funds, a Practical Global Handbook to the Law and Regulation"
London 2012, pp. 391–372


Hedge Fund Regulierung in der Schweiz und der EU(Hedge fund regulations in Switzerland and the EU)

co-authored by Markus Pfenninger and Nicolas Keller
in: Reutter/Werlen (Editor[s]), "Kapitalmarkttransaktionen VI"
Europa Institut Zürich, Band 115, Zurich 2011, pp. 71–127


Buyback of equity and debt securities in Switzerland

co-authored by Markus Pfenninger and Lukas Wyss
in: "PLC Capital Markets 2011"
London 2011



A survey of current regulatory trends – Chapter on Switzerland

by Markus Pfenninger
in: "The International Bar Association's Task Force on the Financial Crisis" October 2010, pp. 117–150







Kommentar zu Art. 821-826 des Schweizerischen Obligationenrechts(Commentary to Art. 821-826 of the Swiss Code of Obligations)

by Markus Pfenninger
in: "Handkommentar Schweizerisches Obligationenrecht"
Zurich 2009


Basler Kommentar zu Art. 32 des Kollektivanlagegesetzes (KAG)(Commentary to Art. 32 of the Collective Investment Schemes Act, CISA)

co-authored by Thomas Müller and Markus Pfenninger
Basel 2009


Legal Opinion bei Kapitalmarkttransaktionen(Legal Opinion in Capital Market Transactions)

co-authored by Markus Pfenninger
in: "Kapitalmarkttransaktionen IV"
Zurich 2009


Kommentar zu Art. 2, 6, 20, 21–23 Kollektivanlagegesetz (KAG)(Commentary to Art. 2, 6, 20, 21–23 of the Swiss Collective Investment Schemes Act)

by Markus Pfenninger
Basel/Geneva/Munich 2009


Switzerland – Security over Receivables

co-authored by Markus Pfenninger
in: "Security over Receivables – An International Handbook"
Oxford 2008


Kommentar zu Art. 425–439 des schweizerischen Obligationenrechts(Commentary to Art. 425–439 of the Swiss Code of Obligations)

by Markus Pfenninger
in: "Handkommentar zum Schweizer Privatrecht"
Zurich 2007


Security over Book Debts/Receivables

by Markus Pfenninger
in: "Newsletter Banking Law" May 2006



Die Verantwortlichkeit des Anwalts für Third Party Legal Opinions(Liability of Lawyers for Third Party Legal Opinions)

co-authored by Gion Giger and Markus Pfenninger
in: "Schweizerische Zeitschrift für Wirtschafts- und Finanzmarchtrecht (SZW)" 1/2005, pp. 1–12



Kommentar zu Art. 820–823 des Schweizerischen Obligationenrechts(Commentary to Art. 820–823 of the Swiss Code of Obligations)

by Markus Pfenninger
in: "Handkommentar Schweizerisches Obligationenrecht"
Zurich 2002


Kommentar zu Art. 11–13 Anlagefondsgesetz (AFG)(Commentary to Art. 11–13 of the Swiss Investment Fund Act)

by Markus Pfenninger
in: "Kommentar zum schweizerischen Kapitalmarktrecht"
Basel/Geneva/Munich 1999


Recent Developments in the Swiss Securities Market: The establishing of Eurex, the joint derivatives market of the Deutsche Boerse AG and the Swiss Exchange - An Overview

Speakers: Markus Pfenninger
15th Annual Seminar on International Financial Law
Barcelona 10 June 1998


Bank Confidentiality in Switzerland

co-authored by Markus Pfenninger
in: "Butterworths Journal of International Banking and Financial Law" January 1998



Market Manipulation and Stabilization in Switzerland

Speakers: Markus Pfenninger
13th Annual Seminar on International Financial Law
Geneva 1 May 1996


Auslegung von Anleihensbedingungen(An Interpretation of Terms and Conditions of Bonds)

by Markus Pfenninger
Zurich 1995


Ausländische Fonds und das AFG(Foreign funds pursuant to the new Swiss Investment Fund Act)

co-authored by Markus Pfenninger
in: "Invest, Finanz und Wirtschaft, Spezialausgabe: Magazin der Finanz und Wirtschaft" 1995


Chancen und Risiken der Übrigen Fonds – Eine Plattform für Innovationen mit Entwicklungspotential(Chances and risks of selected funds pursuant to the new Swiss Investment Fund Act)

co-authored by Markus Pfenninger
in: "Neue Zürcher Zeitung (NZZ)" 25/1995


Deals and Cases

Swiss Life – Share Buyback Program

On 29 November 2018, Swiss Life Holding AG has announced to repurchase own registered shares up to a maximum repurchase value of CHF 1 billion for the purpose of a subsequent capital reduction. The share buyback program starts on 3 December 2018 and will last until 31 December 2019 the latest. The repurchases will be carried out on a second trading line on the SIX Swiss Exchange.

Walder Wyss advises Swiss Life Holding AG with respect to this transaction. The Walder Wyss Team is lead by Markus Pfenninger (Banking Finance, Partner) and includes Ramona Wyss (Banking Finance, Managing Associate) and Maurus Winzap (Tax, Partner).


Walder Wyss advised 40 North in the acquisition and subsequent sale of shares in Clariant AG

White Tale Holdings LLP, a limited partnership comprising 40 North Latitude Master Fund Ltd. (40 North) and two Corvex funds as limited partners, and 40 North acquired a signficant stake in Clariant AG in the course of 2017 of which 24.99% were sold to Saudi Basic Industries Corporation (SABIC) on 25 January 2018. As shareholders in Clariant, 40 North and White Tale successfully opposed the planned merger between Clariant and Huntsman Corp. in October 2017.

Walder Wyss acted as Swiss advisor to 40 North. The Walder Wyss team included Markus Pfenninger (Corporate/M&A, Lead Partner), Theodor Härtsch (Banking Finance, Partner), Alex Nikitine (Corporate/M&A, Partner), Daniel Dedeyan (Corporate/M&A, Counsel), Nico Bernhard (Corporate/M&A, Associate), Dieter Hofmann (Litigation, Partner), Antonio Carbonara (Litigation, Managing Associate), Maurus Winzap (Tax, Partner), Reto Jacobs (Competition, Partner) and Michael Müller (Corporate/M&A, Trainee Lawyer).


Cembra Money Bank signs partnership with startup Lendico Schweiz AG

Cembra Money Bank (Cembra) signed a long term agreement with Lendico Schweiz AG (Lendico), a 100% subsidiary of PostFinance AG, to finance small business loans sourced via the Lendico online platform. Lendico is an SME loan marketplace active in Switzerland since the end of 2016, based in Zurich. Under the agreement, Cembra will be a preferred partner for financing of SME loans sourced by Lendico and consolidate them on the Cembra balance sheet. Lendico will continue to service the portfolio once the loans have been financed. In addition to financing, Cembra will provide collection services for the portfolio financed by Cembra.

Walder Wyss advised Cembra on the overall structuring and all Swiss legal, tax and VAT aspects of the transaction. The Walder Wyss team included Lukas Wyss (Partner, Finance), Markus Pfenninger (Partner, Finance), Valentin Wiesner (Associate, Finance), Jorgos Boulamatsis (Trainee, Finance), Maurus Winzap (Partner, Tax), Jan Ole Luuk (Counsel, VAT) and David Vasella (Counsel, Data Protection).


Swiss Life – CHF 600 mio. Hybrid Bonds

Swiss Life Ltd has successfully placed a CHF 425 million perpetual subordinated bond, first callable in September 2024 and a CHF 175 million dated subordinated bond with final maturity in 2048, first callable in September 2028. Both tranches are guaranteed by Swiss Life Holding Ltd.

Walder Wyss acted as legal counsel to Swiss Life on this transaction. The team was led by Markus Pfenninger (Partner, Banking and Finance) and included Maurus Winzap (Partner, Tax), Theodor Härtsch (Partner, Banking and Finance), Ramona Wyss (Managing Associate, Banking and Finance) and Valentin Wiesner (Associate, Banking and Finance).


Baloise Group places an inaugural CHF 500 million hybrid bond

The Baloise Group has successfully placed a CHF 300 million perpetual subordinated bond, first callable in June 2023 (coupon until first call date: 1.75%) and a CHF 200 million dated subordinated bond with final maturity in 2048, first callable in June 2028 (coupon until first call date: 2.20%). Both tranches are issued by Baloise Life Ltd and are guaranteed by Bâloise Holding Ltd.

Walder Wyss acted as legal counsel to the Baloise Group on this transaction. The team was led by Markus Pfenninger (Partner, Banking and Finance) and included Theodor Härtsch (Partner, Banking and Finance), Maurus Winzap (Partner, Tax), Ramona Wyss (Managing Associate, Banking and Finance) and Valentin Wiesner (Associate, Banking and Finance).


Curriculum Vitae PDF