Bank Sarasin has strengthened its market presence in Germany by obtaining a banking licence and opening a new bank in Frankfurt. This move underlines the Sarasin Group's efforts to continue to expand in what it calls Europe's most important market for private banking. In a statement, the Swiss bank says that a new dynamic team will be responsible for implementing its growth plans in Germany from the new base in Frankfurt. The former head office in Munich will continue to operate as a branch. The new chief executive of Bank Sarasin AG, Frankfurt - trading up until now as Sarasin Wertpapierhandelsbank AG, Munich - is Frank Niehage, as of 1 January 2008.