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
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

Cembra Money Bank acquires invoice financing provider SWISSBILLING SA

Cembra Money Bank has reached an agreement to acquire 100% of the shares of SWISSBILLING. The transaction is expected to close within the first quarter of 2017. The transaction consideration was below CHF 10 million and is expected to have a negative impact of 0.1% on the Group’s CET1 ratio as at closing.

Walder Wyss advises Cembra Money Bank on this transaction. The Walder Wyss team includes Markus Pfenninger (Lead Partner, Banking Finance), Alex Nikitine (Partner Capital Markets/Corporate M&A), Fabian D. Glässer (Associate, Banking Finance) und Christoph Stutz (Associate, Corporate/Employment).


gategroup CHF 300 mio. bond issuance

gategroup successfully raised CHF 300 million through the issuance of a fixed rate 5-year senior bond with a final maturity on February 28, 2022. The bond with a coupon of 3% p.a. has been issued by gategroup Finance (Luxembourg) S.A. and is guaranteed by its parent company gategroup Holding AG. gategroup will apply for the listing of the new bond on the SIX Swiss Exchange.

Walder Wyss acts as Swiss legal counsel to gategroup on this transaction. The Walder Wyss team includes Markus Pfenninger (Banking Finance, Lead Partner), Maurus Winzap (Tax, Partner) and Ramona Wyss (Banking Finance, Managing Associate).


Zug Estates CHF 100 mio. Bond

Zug Estates Holding AG (SIX: ZUGN) has successfully issued its first CHF 100 mio. fixed-interest bond with a 0.7% coupon and a 5-year maturity.

Walder Wyss acts as legal counsel to Zug Estates on this capital market transaction. The Walder Wyss Team is being led by Alex Nikitine (Partner, Capital Markets, M&A) and further includes Sarah Schulthess (Associate, Capital Markets, M&A) and Janine Corti (Counsel, Tax).

 


Fairfax Financial to acquire Switzerland's Allied World for USD 4.9bn in cash and stock

Fairfax Financial Holdings Limited (Fairfax) (TSX:FFH)(TSX:FFH.U) and Allied World Assurance Company Holdings, AG (Allied World) (NYSE:AWH) have entered into a merger agreement (the Agreement), pursuant to which Fairfax will acquire all of the outstanding registered ordinary shares of Allied World. Under the terms of the Agreement, Allied World shareholders would receive a combination of Fairfax subordinate voting shares and cash equal to USD 54.00 per Allied World Share, for a total equity value of approximately USD 4.9bn.

It is intended that the transaction will be effected by way of an exchange offer, followed by a squeeze-out merger, both in accordance with the applicable laws. Closing of the transaction is currently expected to occur in the second quarter of 2017.

Allied World, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World Assurance Company Holdings, AG's domicile is in Zug, Switzerland. Fairfax is a Canadian holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. 

Walder Wyss acts as legal counsel to Allied World on this transaction. The Walder Wyss team is being led by Urs Schenker (Counsel, Corporate/M&A) and Alex Nikitine (Partner, M&A, Capital Markets) and further included Thomas Meister (Partner, Tax), Markus Pfenninger (Partner, Insurance, Capital Markets), Sarah Schulthess (Associate, M&A, Capital Markets) and Janine Corti (Associate, Tax).


Mercury acquires CES

Mercury Systems, a NASDAQ listed leading commercial provider of secure processing subsystems, acquires the Swiss mission computing company Creative Electronic Systems (CES).

Walder Wyss AG has acted as advisor to Mercury Systems in all legal aspects of the transaction. The team was led by Urs P. Gnos and Florian Gunz Niedermann (Partners, Corporate/M&A) and further included Christian Lütolf and Christian Hagen (Associates/M&A), Ueli Sommer (Partner, Employment), Christoph Stutz (Associate, Employment), Gion Giger and Daniel Zimmerli (Managing Associates, Competition), Christine Scherrer (Associate, IP/IT) and Markus Pfenninger (Insurance).


Curriculum Vitae PDF