Stuttgart financial center

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The Stuttgart financial center includes all banks , insurance companies and other financial service providers and their employees in the Stuttgart region .

Regional economic importance

In 2015, over 2.73 million people lived in the Stuttgart region . Around 160,000 companies are based in the region. The gross domestic product (GDP) in 2014 was more than 131 billion euros, which corresponds to a share of 4.5% of the nationwide GDP. The gross value added of the manufacturing industry in the Stuttgart region was around 48 billion euros in 2014, which represented 6.0% of the gross value added in the entire federal territory. The gross value added in the service sector was somewhat lower, which in a national comparison represented a share of 3.9% and in absolute figures was 70.4 billion euros. In 2016, the share of foreign sales in the total sales of the city of Stuttgart was 79.5%. It thus took first place in Baden-Württemberg. Within Baden-Württemberg, the Stuttgart region was at the top with 66.2% foreign sales in the same year.

Around 3% of employees subject to social security contributions in Baden-Württemberg work in the financial and insurance services sector. 37.13% of them work in the Stuttgart region. As an insurance location, the Stuttgart financial center is larger than Frankfurt and Berlin and plays a leading role in a national comparison. 1826 employees subject to social security contributions per 100,000 inhabitants work in the insurance sector in Stuttgart.

With its variety of local banks, insurance companies, building societies and the stock exchange, the Stuttgart financial center is one of the best diversified financial centers in Germany. In a comparison of all German financial centers, Stuttgart has the highest degree of diversification behind Munich.

The Stuttgart financial center also operates in a very good economic and investment environment. In a comparison of international financial centers, the business activities in the financial center Stuttgart go well beyond those in financial centers such as Athens, Barcelona or Rome.

With Stuttgart Financial, the Stuttgart financial center has one of the most active financial center initiatives in Europe.

history

Financing the industry

The first entrepreneurs who made their fortunes through financial transactions were the court factors employed at the Württemberg courts since 1710 . In addition to the delivery of goods, they also organized loans and trade in jewelery. The court factor family Kaulla was involved in the establishment of the Württembergische Hofbank in 1802, which was also involved in industry for the hundred years of its existence.

The development of a financial center in Stuttgart took its course during industrialization in the 19th century. When building an industrial company, raising capital was a central concern. Financial institutions such as the stock exchange founded in 1861 and numerous private banks played an important role during industrialization. In particular, the credit institutes that arose out of the merchandise business were involved in industrial financing: the textile trading company GH Keller's Söhne participated in the establishment of the textile industry, for example, while the Doertenbach & Co. bank financed various industries, including the establishment of the Maschinenfabrik Esslingen involved. The financing of technology and innovation is still an important part of the Stuttgart financial center, so numerous large banks with branches and development institutions have settled here.

Finance for individuals

The insurance industry , which is an important sector in the financial center of Stuttgart until today has also developed in the 18th century: in 1758 were in Baden-Durlach and 1773 in Württemberg , the first fire insurance established, which were organized by the state and controlled. Both fire insurance companies have now merged with SV SparkassenVersicherung . The southwest's first private fire insurance company was founded in 1828. Together with the first pension insurance, founded in 1833 as Allgemeine Rentenanstalt zu Stuttgart, it has been operating as the Württembergische Versicherungsgruppe since the 1990s and is now under the umbrella of Wüstenrot & Württembergische AG. The largest German life insurer, Allianz Leben , was founded in Stuttgart in 1927 and is still based here today. Also for the benefit of private individuals, the Spar-Casse Württemberg was founded in 1818 by Queen Katharina and King Wilhelm . It was aimed at the lower income brackets, as well as the cooperative institutions that offered small craft businesses and farmers credit opportunities. Savings banks and Volksbanks are still represented today with extensive branch networks in the southwest and are organized in associations. The Savings Bank Association is also a shareholder in the largest German Landesbank, the Landesbank Baden-Württemberg , which was created in 1999 from the merger of various public law institutions.

Important institutes

The numerous financial institutions and financial service providers in particular make Stuttgart an important financial center. Some of the big players are listed below.

Banks

Landesbank Baden-Württemberg , based in Stuttgart, is the largest Landesbank in Germany. One of the largest automotive banks, Mercedes-Benz Bank , is also based there.

Stuttgart Stock Exchange

The Stuttgart Stock Exchange is leading with around 26% market share in Europe exchange for securitized derivatives . At the same time, it is Germany's market leader in corporate bond trading. The Stuttgart Stock Exchange ranks 10th among the European stock exchanges in terms of order book turnover. The Euwax trading segment has been trading in securitized derivatives since 1999. As of October 2013, investors can invest in more than 1.1 million listed securities here.

Funding institutes

With the L-Bank , one of the largest development banks in Europe is based in the region. It has developed financing offers for the interests of medium-sized companies and in 2011 provided domestic companies with a financing volume of 3.1 billion euros. In doing so, it has supported investments in new technologies or energy-saving measures, starting up a business or taking over a company. The MBG (medium-sized investment company) associated with the Bürgschaftsbank is the most frequent investor in Germany.

Insurance

For example, the Stuttgarter Versicherung and WGV-Versicherungen have traditional roots in Stuttgart . The Württembergische Lebensversicherung AG was founded in 1833 in Stuttgart (now part of Wüstenrot & Württembergische ). The Wüstenrot & Württembergische group, which has existed since 1999, is also based in Stuttgart. Other insurers based in Stuttgart are Hallesche Mutual Health Insurance and United Post Insurance . With Allianz Lebensversicherungs-AG, the Allianz Group also has a location in Stuttgart.

In addition, some have occupational pension swerke based in Stuttgart, for example, the pension fund of the press , that of lawyers in Baden-Wuerttemberg, the local Chamber of Architects and the engineering facilities of Baden-Wuerttemberg. A total of 28 insurance companies and pension funds are based in the financial center.

Investor fair Invest

Invest is an investor fair for finances and investments and has been held annually since 1999 in cooperation with the Stuttgart Stock Exchange at Messe Stuttgart . It is Germany's largest event for institutional and private investors. In 2013, 11,492 investors obtained information from around 130 exhibitors and in over 250 lectures, workshops and discussions.

Affiliates

Of the four largest auditing firms ( Big Four ), Ernst & Young is represented with its German headquarters in Stuttgart. KPMG , PricewaterhouseCoopers and Deloitte each have a branch in Stuttgart.

See also

Web links

Individual evidence

  1. ↑ a b c Federal Employment Agency, December 31, 2016.
  2. ↑ State Statistical Office, 2017.
  3. ^ The Stuttgart financial center in Baden-Württemberg, Germany and Europe. (PDF) Stuttgart Financial, p. 82 , accessed on October 16, 2017 .
  4. ^ The Stuttgart financial center in Baden-Württemberg, Germany and Europe. (PDF) pp. 82–91 , accessed on October 16, 2017 .
  5. ^ The Stuttgart financial center in Baden-Württemberg, Germany and Europe. (PDF) Stuttgart Financial, 2017, accessed on September 18, 2017 .
  6. ↑ Contributions to the economic and social history of southwest Germany; Vol. 16: Bergner, Mathias, The Württemberg banking system. Development, expansion and structural change of the regional banking system until 1923. 1993. ISBN 3-928134-73-6 .
  7. ^ Gert Kollmer-von Oheimb-Loup : Introduction to the banking history of Baden-Württemberg in the 19th and 20th centuries (= Stuttgart historical studies on regional and economic history . Volume 14). Thorbecke, Ostfildern 2009, ISBN 978-3-7995-5564-7 .
  8. ^ Wilhelm Hohmann: Compendium of the private banks in Stuttgart from 1865 to the end of the 1980s (= Stuttgart historical studies on regional and economic history . Volume 14). Thorbecke, Ostfildern 2009, ISBN 978-3-7995-5564-7 .
  9. ↑ SV Sparkassenversicherung Holding AG (Ed.): 250 years of SV Sparkassenversicherung ( Memento of the original from December 15, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 8.5 MB). Stuttgart 2008. @1@ 2Template: Webachiv / IABot / www.sparkassenversicherung.de
  10. ↑ Banks and insurance companies in the 19th and 20th centuries / by Eckhard Wandel. - Munich: Oldenbourg, 1998. - XIV
  11. ^ Hansjörg Oswald: Württembergische Feuerversicherung AG Stuttgart. 1765–1984 (= repertories / holdings B. Volume 92). Economic archive, Stuttgart-Hohenheim 2000.
  12. ^ Württembergische Versicherung AG: 175 years of Württembergische. Chronicle 1828-2003 . Württembergische Versicherung, Stuttgart 2003.
  13. ↑ Catharina Pavlovna. Queen of Württemberg, 1816–1819. Influences, life, achievements. An exhibition by the University of Hohenheim, University Archives, September 9-28, 1993 in Hohenheim Palace. Univ. Hohenheim, Hohenheim 1993.
  14. ^ Elke Schmitt: Württembergische Landessparkasse Stuttgart, 1816-1994 (= repertories / holdings B. Volume 101). Economic archive, Stuttgart-Hohenheim 2006.
  15. ↑ history . Euwax AG website, accessed on December 5, 2013.
  16. ↑ About us . Euwax AG website, accessed on December 5, 2013.
  17. ↑ Funding database, February 2013
  18. ↑ BaFin, June 2013
  19. ↑ Invest . Messe Stuttgart website, accessed on December 5, 2013.
  20. ↑ Banks and Stock Exchange ( Memento of the original dated December 11, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Stuttgart Financial website, accessed December 5, 2013. @1@ 2Template: Webachiv / IABot / www.stuttgart-financial.de
  21. ↑ Invest: "Knowledge brings the best return." ( Memento of the original dated December 13, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Messe Stuttgart, press release of May 23, 2013. Accessed December 5, 2013. @1@ 2Template: Webachiv / IABot / www.messe-stuttgart.de