Covario appoints Michael Baumgartner as Co-Head of Institutional Sales

Covario AG
2 min readApr 1, 2022

Zug, Switzerland — Covario, an award-winning Swiss-based Cryptocurrency Prime Broker, has today announced the appointment of Michael Baumgartner as Co-Head of Institutional Sales, effective April 1, 2022.

As Co-Head of Sales, Michael is responsible for the global client management, new business development and the expansion of existing relationships. Prior to joining Covario, Michael was the Head of Sales for Transaction Banking & Digital Assets at InCore Bank.

Michael will build a powerful team together with Andreas Thode, Co-Head of Institutional Sales, who joined Covario in September 2021 after 5 years at Bank Frick as the Head of their Brokers, Exchanges and Blockchain Division.

Michael Baumgartner commented: “I am thrilled to join Covario as Co-Head of Institutional Sales. As the attention of institutions shift to the digital asset space, Covario is bringing forth best-in-class crypto prime brokerage services. I look forward to working closely with Covario’s exceptional team and sharing more about Covario’s offerings in the very near future.”

Mark Banner, Founder and CEO of Covario, commented: “It is my absolute pleasure to welcome Mr. Baumgartner on board as Co-Head of Institutional Sales. At this exciting stage of accelerated growth at the company, I have no doubt that Mr. Baumgartner’s contributions will be far-reaching through his extensive industry experience and deep technical knowledge.”

Michael brings over 35 years of experience in financial markets, in wealth management and investment banking at companies including BNP Paribas, Deutsche Bank, UBS, and Nomura. Most recently, he was the Head of Sales for Transaction Banking & Digital Assets at InCore Bank.

About Covario AG

Founded in Switzerland in 2019, Covario is an award-winning Crypto Prime Broker that brings together the core components of the global institutional crypto market in a secure, compliant and scalable platform, covering trading, custody, financing and tailor-made solutions. Covario operates a team of over 25 full-time staff with offices in Zug and Hong Kong. Visit:

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