DGAP-News: Paul Berwein, Chairman of the Supervisory Board at MWB AG died
2002-11-08 08:00
Pioneer in securities trading
Paul Berwein, Chairman of the Supervisory Board at MWB Wertpapierhandelshaus AG, died on November 8, 2002, aged 70. Paul Berwein was considered as a pioneer in securities trading and had a formative influence on this business sector in Germany. As founder member and, until 1991, spokesman of the board of the Bundesverband der Werpapierhandelsfirmen [Federal Association of Securities Dealers] he not only made important contributions to this organisation, but he also earned a great deal of respect due to his numerous honorary posts in Germany and abroad. In 1992, Paul Berwein was awarded the Order of Merit of the Federal Republic of Germany for his outstanding services.
"With the death of Paul Berwein, we have lost a friend and colleague whose knowledge and commitment had significant influence on our company. For the entire business his death means the loss of a pioneer and expert who pushed the development of securities trading in Germany like nobody else." says Thomas Posovatz, the Speaker of the Board at MWB AG.
After his language studies, the trained banker started his career in securities trading in 1959 at Feuchtwangerbank. In April 1964 Paul Berwein was granted a license as an independent broker at the Bavarian stock exchange, and thus became the first independent supraregional broker. Between 1972 and 1991, Berwein was the first independent broker to become a member of the stock exchange council at the Bavarian stock exchange. In 1978 he founded the Paul Berwein Börsenmakler GmbH, which in 1979 was first to start trading foreign stocks at the Bavarian and Berlin stock exchanges. Also in the field of electronic trading Paul Berwein Börsenmakler GmbH played a pioneering role by publishing purchase and sales prices via REUTERS. Thanks to consistent development the company was turned into the Berwein Wert-papierhandels- und Börsenmakler AG in 1988, which was integrated into S.G. War-burg Group plc in 1989. In 1991 Berwein AG was the first independent broker to receive an account at the German clearinghouse association. In the same year Paul Berwein contributed his advice during the foundation of the Budapest stock exchange. In 1992 Berwein was honorary founder member of the Estonian stock exchange in Tallinn and acted as a consultant commissioned by the Federation of German Stock Exchanges for the establishment of a stock exchange in Moscow. Since 1998, Paul Berwein had been Chairman of the Supervisory Board at MWB Wertpapierhandelshaus AG.
Paul Berwein, Chairman of the Supervisory Board at MWB Wertpapierhandelshaus AG, died on November 8, 2002, aged 70. Paul Berwein was considered as a pioneer in securities trading and had a formative influence on this business sector in Germany. As founder member and, until 1991, spokesman of the board of the Bundesverband der Werpapierhandelsfirmen [Federal Association of Securities Dealers] he not only made important contributions to this organisation, but he also earned a great deal of respect due to his numerous honorary posts in Germany and abroad. In 1992, Paul Berwein was awarded the Order of Merit of the Federal Republic of Germany for his outstanding services.
"With the death of Paul Berwein, we have lost a friend and colleague whose knowledge and commitment had significant influence on our company. For the entire business his death means the loss of a pioneer and expert who pushed the development of securities trading in Germany like nobody else." says Thomas Posovatz, the Speaker of the Board at MWB AG.
After his language studies, the trained banker started his career in securities trading in 1959 at Feuchtwangerbank. In April 1964 Paul Berwein was granted a license as an independent broker at the Bavarian stock exchange, and thus became the first independent supraregional broker. Between 1972 and 1991, Berwein was the first independent broker to become a member of the stock exchange council at the Bavarian stock exchange. In 1978 he founded the Paul Berwein Börsenmakler GmbH, which in 1979 was first to start trading foreign stocks at the Bavarian and Berlin stock exchanges. Also in the field of electronic trading Paul Berwein Börsenmakler GmbH played a pioneering role by publishing purchase and sales prices via REUTERS. Thanks to consistent development the company was turned into the Berwein Wert-papierhandels- und Börsenmakler AG in 1988, which was integrated into S.G. War-burg Group plc in 1989. In 1991 Berwein AG was the first independent broker to receive an account at the German clearinghouse association. In the same year Paul Berwein contributed his advice during the foundation of the Budapest stock exchange. In 1992 Berwein was honorary founder member of the Estonian stock exchange in Tallinn and acted as a consultant commissioned by the Federation of German Stock Exchanges for the establishment of a stock exchange in Moscow. Since 1998, Paul Berwein had been Chairman of the Supervisory Board at MWB Wertpapierhandelshaus AG.