From Citywire

German asset management firm Eulenbach Vermönensmanagement has disbanded after 25 years of operation, citing cost pressures and increased regulatory burden created by MiFID II.

Speaking to Citywire Deutschland, the Essen-based investment firm confirmed its plan to hand back its license to operate to BaFin.

The firm cited increased administration and costs, with a particular focus on the additional workload created by new regulation.

Eulenbach had overseen €4.5 million in assets prior to closing its asset management arm. The consultancy part of the business will still continue to operate.

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