Unicredit Bank

from Wikipedia, the free encyclopedia
  Unicredit Bank AG
logo
Country GermanyGermany Germany
Seat Munich
legal form Corporation
Bank code 700 202 70
BIC HYVE DEMM XXX
founding 1998
Website www.hypovereinsbank.de
Business data 2018
Total assets 260.3 billion euros (Dec. 31, 2018)
Employee 12,268 (plus 318 trainees; annual average 2018)
Offices 364 worldwide, including 348 in Germany (December 31, 2018)
management
Board Michael Diederich, Board Spokesman
Supervisory board Gianpaolo Alessandro, Chairman of the Supervisory Board
Hypo house in the Arabellapark in Munich-Bogenhausen

The Unicredit Bank AG with its brand HypoVereinsbank (HVB) is a German financial institution with headquarters in Munich . Unicredit Bank AG has been a subsidiary of the major Italian bank and holding company Unicredit since 2005 .

Unicredit Bank is active in Germany, concentrating on private and corporate customer business as well as customer-related capital market activities and private banking (also known as wealth management). It is a mixed mortgage bank , so that it operates the entire banking business as a universal bank in accordance with the Mortgage Bank Act and, as a mortgage bank, is also authorized to issue Pfandbriefe . The company is a member of the Cash Group .

Organizational structure and corporate management

Unicredit Bank AG has three business areas. Unicredit Bank AG is thus based on the structure of the parent company Unicredit . The business areas are responsible for the business and service units assigned to them.

organization structure

Organizational structure (as of January 14, 2013)
Commercial banking with the business areas Private Customers Bank and Entrepreneur Bank Corporate & Investment Banking

Board members and organizational structure

Corporate management (as of April 23, 2020)
Country Chairman Germany and member of the Executive Management Committee of Unicredit
Michael Diederich
Corporate & Investment Banking Commercial banking, private customer bank Commercial Banking, Entrepreneur Bank CRO (Chief Risk Officer) CFO (Chief Financial Officer) COO (Chief Operating Officer)
Jan copper Jörg Frischholz Markus Beumer Ljiljana Čortan Guglielmo Zadra Sandra Betocchi Drwenski

Members of the supervisory board

Supervisory Board (as of April 23, 2020)
Gianpaolo Alessandro (Chairman of the Supervisory Board) Wolfgang Sprißler (Deputy Chairman of the Supervisory Board) Florian Schwarz *) (Deputy Chairman of the Supervisory Board, employee of Unicredit AG)
Annette Köhler (professor and holder of the chair for accounting, auditing & controlling at the University of Duisburg-Essen) Claudia Richter *) (Employee at Unicredit Bank AG) Gregor Völkl *) (FB1 District Secretary, State District Bavaria of ver.di)
Olivier Khayat (Co-CEO Commercial Banking Western Europe of UniCredit SpA) Paolo Cornetta (Head of Group Human Capital at Unicredit SpA) Klaus-Peter Prinz *) (Employee of Unicredit Luxembourg SA)
Oliver Skrbot *) (employee of Unicredit Bank AG) Christian Staack *) (Employee of Unicredit Bank AG (formerly Bayerische Hypo- und Vereinsbank AG)) Marita Kraemer (Former member of the holding board of the Zurich Group in Germany)
*) Representative of the employee side

history

Origins

The oldest branch of the Unicredit Bank AG family tree goes back to the Bayerische Staatsbank , which was founded in the second half of the 18th century. Inspired by the Königliche Bank Berlin, Margrave Karl Alexander von Brandenburg-Ansbach founded his own court bank in 1780: the Hochfürstlich-Brandenburg-Anspach-Bayreuthische Hofbanco . Thrifty reasons moved the margrave to this plan, because he wanted to avoid the fees of the foreign banks and get the aid money from England for his soldier trade more quickly. The war between England and France in North America had caused England to conclude treaties with German princes and to demand troops from the German princes in return for aid.

After the Napoleonic Wars , the Margraviates of Ansbach and Bayreuth became part of the Kingdom of Bavaria and the bank became the Royal Bank . With the end of the monarchy in Bavaria in 1918, the name was finally changed to Bayerische Staatsbank . In 1971 the Bayerische Staatsbank merged with the Bayerische Vereinsbank . The current head office of Unicredit Bank is located in the former building of the Bayerische Staatsbank in Munich's Kardinal-Faulhaber-Straße 1 .

The Bayerische Vereinsbank emerged in 1869 from a private initiative of Munich and Augsburg court bankers, members of the court aristocracy and middle-class business people. The “fairytale king” Ludwig II gave the initiative the concession to set up a stock corporation under the name Bayerische Vereinsbank . Two years later, it received permission for the land loan business and thus became a "mixed institute". In contrast to most banks, the Bayerische Vereinsbank was henceforth allowed to operate not only banking but also mortgage banking . In the early 1950s, the Bayerische Vereinsbank opened its first branches abroad. The merger with the Bayerische Staatsbank finally resulted in one of the largest banks in Germany. The Bayerische Vereinsbank also included the mortgage banks Bayerische Handelsbank AG, Süddeutsche Bodencreditbank AG and Nürnberger Hypothekenbank AG. The expansion of the banking group was accelerated through the merger with the Röchling (Saarbrücken) bank in 1978 and with the Simonbank (Düsseldorf) in 1991 . The Bayerische Vereinsbank began to expand throughout Germany and internationally in the 1960s and in 1998 was the third largest bank in Germany.

The Bayerische Hypotheken- und Wechsel-Bank (short: Hypo-Bank) was founded in 1835 on the initiative of King Ludwig I of Bavaria . It was a mixed institute from the start , had the right to issue Pfandbriefe since 1864 and developed into the largest mortgage bank in Germany in the 19th century. Hypo-Bank also began to expand throughout Germany and internationally in the 1960s.

After the first merger

In 1998 the two traditional companies Bayerische Hypotheken- und Wechsel-Bank and Bayerische Vereinsbank merged to form Bayerische Hypo- und Vereinsbank Aktiengesellschaft .

After the merger, Bayerische Hypo- und Vereinsbank pursued the Bank of the Regions strategy . It expanded its network to include the promising markets of Central and Eastern Europe ( CEE - Central and Eastern Europe). Between 2000 and 2002 she completed the integration of the Austrian Bank Austria Creditanstalt and created the HVB Group . Bank Austria Creditanstalt was responsible for the CEE countries within the group. This in turn expanded in Central and Eastern Europe and bought, among others, the Bulgarian bank Biochim , the Serbian Eksimbanka and the Romanian Banca Comerciala Ion Țiriac .

Bayerische Hypotheken- und Wechsel-Bank entered into this merger with a heavy mortgage because it had considerable legacy issues, in particular from the granting of real estate loans in the new federal states. The chairman of the board of the Bayerische Hypo- und Vereinsbank, which emerged from the merger, Albrecht Schmidt, later put the "surprising" real estate burdens at around DM 3.5 billion. This was followed by between Schmidt and the chairman of the supervisory board of the Bayerische Hypo- und Vereinsbank and former Hypobank CEO Eberhard Martini had a very angry argument in the course of which Martini lost his position on the supervisory board. The public prosecutor's office in Munich I also initiated an investigation against Eberhard Martini and other members of the board of the former Hypo-Bank, which, however, were discontinued in 2001 against payment of additional money. Eberhard Martini's circulation was DM 700,000.

In March 2003, Hypo Real Estate , the real estate financing subsidiary of Bayerische Hypo- und Vereinsbank, was spun off and listed on the stock exchange. A minority share in Bank Austria Creditanstalt was also listed on the stock exchange.

After the second merger

In 2005 the Bayerische Hypo- und Vereinsbank was taken over by the Italian financial institute Unicredit SpA .

Logo of the Vereins- und Westbank in their 2000 annual report

In the same year, the Bayerische Hypo- und Vereinsbank integrated the Vereins- und Westbank Hamburg , which in turn emerged in 1974 from the merger of the Vereinsbank in Hamburg with the Westbank . The Vereinsbank in Hamburg also had a long tradition. It was founded in 1856 on the initiative of well-known Hamburg merchants. The West Bank, on the other hand, had its origin in Schleswig-Holstein and was created in 1943 from a forced merger of several small north German banks. It was initially called Schleswig-Holsteinische und Westbank, and since 1968 has been known as the Westbank.

In 2006, Bayerische Hypo- und Vereinsbank took over the corporate customer portfolio of Westfalenbank AG , which had been founded in 1921 by leading companies in the Rhenish-Westphalian industrial area in Bochum. However, a connection between the two institutes had already existed since Bayerische Hypotheken- und Wechsel-Bank AG acquired a stake in Westfalenbank in 1971.

In 2006, the significant majority stake in Unicredit Bank Austria , Austria's largest bank, was sold to the parent company Unicredit for around 13 billion euros without a bidding process. Subsequently, this led to a large number of lawsuits from independent shareholders of Bank Austria. The investment company Activest was also sold to a Unicredit fund subsidiary called Pioneer Investments .

Logo of the Bayerische Hypo- und Vereinsbank until March 31, 2008

In January 2007 Unicredit announced that it wanted to carry out a squeeze-out at Bayerische Hypo- und Vereinsbank. The price for this was set at € 38.26 per share. The general meeting on June 26, 2007 decided on the squeeze-out. Following the Annual General Meeting, free shareholders of Bayerische Hypo- und Vereinsbank filed more than 100 actions for rescission ; This represents a record in Germany. With the votes of the free shareholders, the Bonn attorney Thomas Heidel was elected as a special representative according to § 147 AktG , who was supposed to examine possible claims for damages in connection with the sale of the Bank Austria participation. Against the order, Unicredit itself brought an action for avoidance. In the period that followed, the special representative criticized the hindrance to his work. On September 15, 2008, the squeeze-out resolved by the Annual General Meeting in June 2007 was entered in the commercial register at the Munich Register Court. All shares in Bayerische Hypo- und Vereinsbank were thus transferred to Unicredit by law. The listing of the shares on the stock exchanges should be discontinued at short notice.

Unicredit Bank AG logo until July 31, 2010

In April 2008, Bayerische Hypo- und Vereinsbank adapted its market presence to that of the Unicredit Group. Although the Hypovereinsbank brand was retained, the previous blue logo was replaced by black lettering preceded by a red Unicredit logo. At the same time, a new logo was introduced at Bank Austria. The Bayerische Hypo- und Vereinsbank and Bank Austria thus adapted their brands in appearance to the overall appearance of the Unicredit Group. In a second step, Bayerische Hypo- und Vereinsbank Aktiengesellschaft was renamed Unicredit Bank AG on December 15, 2009 (partly due to the risk of confusion with Hypo Real Estate, which was spun off in 2003 ) and the Hypovereinsbank brand was retained.

The merger of Unicredit CAIB AG with Unicredit Bank AG, announced in February 2010, was completed with the entry in the commercial register on July 1, 2010. The newly founded Unicredit Bank AG - Vienna branch serves as an interface to customers in Austria and CEE and focuses on the initiation of transactions and the sale of CIB products. The merger represents a further milestone in the bundling of group-wide marketing and investment banking in Unicredit Bank AG and thus controls by far the largest part of the investment banking business of the Unicredit Group.

In August 2014, the company announced that it would sell its direct banking subsidiary DAB Bank . BNP Paribas paid 354 million euros for the 81.4 percent stake in DAB Bank .

In June 2015, Unicredit Bank sold its stake in Planethome AG. The shares were transferred on June 16, 2015. The buyers of Planethome AG and its subsidiaries are the financial investors AP Capital Investments and Deutsche Invest Equity Partners. The company's cooperation with PlanetHome remains unaffected by the sale of the shares.

Subsidiaries

Important subsidiaries of Unicredit Bank AG are:

Board spokesman

Cultural promotion

The cultural commitment of the Unicredit Bank ranges from the promotion of the Hypo-Kulturstiftung with the Kunsthalle to the support of premium cultural partners, such as the Bavarian State Opera , to the Unicredit Group with the Filarmonica della Scala and the Arena of Verona . With the Unicredit Festival Night , Unicredit Bank has been campaigning since 2002 to make art and culture accessible to a large number of people. Another part of the company's cultural sponsorship is the Hypovereinsbank art collection . A comprehensive focus is on contemporary art. In addition, Unicredit Bank is a member of the cultural sponsoring working group of the German Business Culture Association .

criticism

Justice scandal Gustl Mollath

In the context of the judicial scandal surrounding Gustl Mollath , Unicredit Bank is also named as the legal successor to Bayerische Hypo- und Vereinsbank, which did not forward an internal audit report on capital transfers from customers to Switzerland to the public prosecutor's office.

Financing of scrap real estate

From the 1990s, Bayerische Hypo- und Vereinsbank marketed scrap real estate nationwide and helped buyers with financing. The real value of these properties was concealed, the real estate dealers were trained and paid accordingly. In one case, the injured party obtained before the Federal Court of Justice that the bank was liable for the dealer's business.

Cum ex shops

With Paul Robert Mora, who worked for them until 2008, the bank was one of the main actors in the scandal about the refund of unpaid taxes, the Cum Ex business.

Web links

Commons : HypoVereinsbank  - collection of images, videos and audio files

Individual evidence

  1. ↑ a b Master data of the credit institute at the Deutsche Bundesbank
  2. ↑ Annual Report 2018 . Unicredit Bank AG, March 2019, accessed on March 29, 2019 (PDF; 2.02 MB).
  3. ↑ organizational structure
  4. ↑ Members of the Board of Management of Unicredit Bank AG, Munich . hypovereinsbank.de, accessed on April 23, 2020.
  5. ↑ Supervisory Board
  6. ↑ MHP News ( Memento of May 18, 2012 in the Internet Archive ), with further links.
  7. ↑ Unicredit refuses special audit ( memento from August 4, 2012 in the web archive archive.today ), article in the Financial Times Deutschland.
  8. ↑ Register court enters squeeze-out of Bayerische Hypo- und Vereinsbank ( Memento from April 4, 2018 in the Internet Archive )
  9. ↑ Bayerische Hypo- und Vereinsbank: Bayerische Hypo- und Vereinsbank is visually adapting to the new Unicredit umbrella brand. In: press.hypovereinsbank.de. September 20, 2007, accessed February 12, 2015 .
  10. ↑ Simone Boehringer: DAB Bank in Munich - BNP Paribas buys DAB. In: sueddeutsche.de . August 13, 2014, accessed February 12, 2015 .
  11. ↑ Investors Relations Holdings ( Memento of May 6, 2009 in the Internet Archive )
  12. ↑ swr.de: internal test report No. 20546 of the Unicredit Bank (PDF; 5.2 MB)
  13. ↑ Conny Neumann: Gustl Mollath case: cleared away and shut down. In: Spiegel Online . November 21, 2012, accessed February 12, 2015 .
  14. ↑ Business documentation: When insiders unpack ( memento of October 24, 2011 in the Internet Archive ), business magazine Makro from 3sat , October 20, 2011
  15. ↑ Macro: When Insiders Unpack , 3sat Mediathek, report by Rainer Fromm and Kristian Lüders, October 21, 2011.
  16. ↑ Malicious deception: Unicredit Bank has to pay for junk property. In: Spiegel Online . July 22, 2011, accessed February 12, 2015 .
  17. ↑ FAZ.NET / dpa: Federal Court of Justice condemns Unicredit Bank AG. In: FAZ.net . July 22, 2011, accessed February 12, 2015 .
  18. ↑ British bankers on trial in Germany charged with € 447m fraud , Philip Oltermann, The Guardian , September 4, 2019 (in English)
  19. ↑ The biggest tax theft in German history , Tim Bartz, Spiegel Online , September 4, 2019
  20. ↑ Kiwi charged in Germany over alleged tax scandal , Martin van Beynen, Stuff.co.nz, May 25, 2018 (in English)

Coordinates: 48 ° 8 ′ 29.6 ″  N , 11 ° 34 ′ 27.5 ″  E