Helaba, short for Landesbank Hessen-Thüringen, is a commercial bank with core regions in Hesse and Thuringia, Germany offering financial services to companies, banks, institutional investors and the public sector, both within Germany and internationally. At the same time, it is the central clearing institution and service provider for 40 percent of German savings banks. Helaba is an institution incorporated under public law. With approximately 6,300 employees and two headquarters in Frankfurt and Erfurt, the bank maintains branches in Düsseldorf and Kassel as well as offices in Berlin, Stuttgart, Munich and Muenster. On an international level, Helaba acts through branches and representative offices in Paris, London, New York, Madrid, Moscow, Shanghai, and Singapore. Frankfurter Sparkasse, the leading retail bank in the Rhine-Main region, is a wholly owned subsidiary of Helaba. The Helaba Group also comprises the online bank 1822direkt, LBS Hessen-Thüringen and WIBank. The latter implements development programmes of the State of Hesse. Further Helaba subsidiaries are Helaba Invest Kapitalanlagegesellschaft, Frankfurter Bankgesellschaft and the OFB Group (real estate development).
The business field “Wholesale customer business” comprises financial services for enterprises, banks and institutional investors. In the business field of “private customers and small and medium-sized enterprise (SMEs)”, through its S-Group Bank, Helaba provides services for the S-Group savings banks in Hesse, Thuringia, North Rhine-Westphalia and Brandenburg. the framework of “public development and infrastructure business”, Helaba serves the development support programmes of the regional state of Hesse and participates in the development institutions and agencies in Hesse and Thuringia. Also GWH, one of Hesse’s biggest housing corporations, belongs to Helaba.
On June 1, 1953, Hessische Landesbank Girozentrale arose from the merger of Hessische Landesbank Darmstadt Girozentrale (founded in 1940), Nassauische Landesbank Wiesbaden (founded in 1940) and Landeskreditkasse zu Kassel (founded in 1832). In the 1970s, a financial scandal in relation to Tibor Rosenbaum brought Hessische Landesbank into serious difficulties. On July 1, 1992, a state treaty between Hesse and Thuringia on uniting the savings banks organizations of the two federal states brought about the creation of a joint Landesbank. As a result, it was the first Landesbank to operate outside a single federal state’s boundary. In the year 2005, Helaba acquired Frankfurter Sparkasse and thereby entered further into private customer business, which it had already conducted through its Darmstadt Branch and at its Kassel location through Landeskreditkasse zu Kassel.
In 2007, Jürgen Rüttgers and Roland Koch, the minister-presidents of North Rhine-Westphalia and Hesse, tentatively agreed on approving a merger of their respective state-owned banks, Helaba and WestLB;[1] however, WestLB was eventually broken up in 2012 after years of losses and controversy. During his time in office, CEO Hans-Dieter Brenner later advocated a merger of Helaba with DekaBank, the fund manager for the country's savings banks.[2]
In 2014, Helaba entered a joint venture with U.S. banking group BNY Mellon and the country's 25 largest savings banks to help corporate customers to expand foreign trade with Asia.[3] In late 2018, it acquired Dexia Kommunalbank Deutschland, the German unit of Franco-Belgian bank Dexia, for 352 million euros ($398 million).[4]
In July 2011 it was reported that Helaba would pull out of the EU's bank stress tests to avoid public failure.[5]
Governanceedit
Legal form and ownersedit
Helaba has legal capacity as an institution incorporated under public law. Owners and guarantors of Landesbank Hessen-Thüringen are the Sparkassen- und Giroverband Hessen-Thüringen (85%) (Savings Banks and Giro Association of Hesse-Thuringia), the Federal State of Hesse (10%) and the Free State of Thuringia (5%). The governing bodies of the bank are the Owners’ Assembly, the Supervisory Board and the Board of Managing Directors. CEO of Landesbank Hessen-Thüringen is Hans-Dieter Brenner.
Board of Managing Directorsedit
Thomas Groß
Dr Detlef Hosemann
Hans-Dieter Kemler
Frank Nickel
Christian Rhino
Christian Schmidt
Former Chairs of the Board of Managing Directorsedit
The foundation stone of the Main Tower was laid in October 1996. Three years later, the bank moved into the building. With a height of 200 metres, it is the fourth-highest skyscraper in Frankfurt. Earlier, the bank was headquartered in the adjacent building, now called Garden Towers.
Controversyedit
In 2023, the European Central Bank fined Helaba with 6.83 million euro ($7.29 million) for "consciously" misrepresenting its exposure to turbulent financial markets during the COVID-19 pandemic so it would need less capital; at the time, this was the second-largest levied by the ECB since taking over supervision of the euro zone's biggest lenders in 2014.[6]
Referencesedit
^Beat Balzli, Wolfgang Reuter and Steffen Winter (November 20, 2007), Trouble Ahead For State-Owned Banks in Germany Bloomberg News.
^Andreas Kröner (August 26, 2015), German Helaba chief floats idea of merger with Deka Bank Reuters.
^Jonathan Gould and Andreas Kröner (August 27, 2014), Helaba, BNY Mellon team up for German companies' Asian push Reuters.
^Arno Schuetze (December 14, 2018), Germany's Helaba to acquire Dexia's German unit for $398 million Reuters.
^"German bank Helaba 'to pull out of stress tests'", BBC, 14 July 2011.
^Francesco Canepa (10 February 2023), ECB fines Germany's Helaba for misrepresenting risk Reuters.
helaba, major, contributor, this, article, appears, have, close, connection, with, subject, require, cleanup, comply, with, wikipedia, content, policies, particularly, neutral, point, view, please, discuss, further, talk, page, april, 2013, learn, when, remove. A major contributor to this article appears to have a close connection with its subject It may require cleanup to comply with Wikipedia s content policies particularly neutral point of view Please discuss further on the talk page April 2013 Learn how and when to remove this template message Helaba short for Landesbank Hessen Thuringen is a commercial bank with core regions in Hesse and Thuringia Germany offering financial services to companies banks institutional investors and the public sector both within Germany and internationally At the same time it is the central clearing institution and service provider for 40 percent of German savings banks Helaba is an institution incorporated under public law With approximately 6 300 employees and two headquarters in Frankfurt and Erfurt the bank maintains branches in Dusseldorf and Kassel as well as offices in Berlin Stuttgart Munich and Muenster On an international level Helaba acts through branches and representative offices in Paris London New York Madrid Moscow Shanghai and Singapore Frankfurter Sparkasse the leading retail bank in the Rhine Main region is a wholly owned subsidiary of Helaba The Helaba Group also comprises the online bank 1822direkt LBS Hessen Thuringen and WIBank The latter implements development programmes of the State of Hesse Further Helaba subsidiaries are Helaba Invest Kapitalanlagegesellschaft Frankfurter Bankgesellschaft and the OFB Group real estate development Landesbank Hessen ThuringenTrade nameHelabaTypeInstitution incorporated under public lawIndustryFinancePredecessorHessische Landes HypothekenbankHessische Landesbank StaatsbankLandeskommunalbank Girozentrale fur HessenLandeskreditkasse zu Kassel FoundedJune 1 1953Defunct1953 HeadquartersFrankfurt and Erfurt GermanyKey peopleThomas Gross CEO of HelabaTotal assets 219 3 billion 2020 Number of employeesapp 6000 2021 Websitewww helaba com Contents 1 Business activities 2 History 3 Governance 3 1 Legal form and owners 3 2 Board of Managing Directors 3 3 Former Chairs of the Board of Managing Directors 4 Headquarters 5 Controversy 6 References 7 External linksBusiness activities editThe business field Wholesale customer business comprises financial services for enterprises banks and institutional investors In the business field of private customers and small and medium sized enterprise SMEs through its S Group Bank Helaba provides services for the S Group savings banks in Hesse Thuringia North Rhine Westphalia and Brandenburg the framework of public development and infrastructure business Helaba serves the development support programmes of the regional state of Hesse and participates in the development institutions and agencies in Hesse and Thuringia Also GWH one of Hesse s biggest housing corporations belongs to Helaba nbsp Main Tower in FrankfurtHistory editOn June 1 1953 Hessische Landesbank Girozentrale arose from the merger of Hessische Landesbank Darmstadt Girozentrale founded in 1940 Nassauische Landesbank Wiesbaden founded in 1940 and Landeskreditkasse zu Kassel founded in 1832 In the 1970s a financial scandal in relation to Tibor Rosenbaum brought Hessische Landesbank into serious difficulties On July 1 1992 a state treaty between Hesse and Thuringia on uniting the savings banks organizations of the two federal states brought about the creation of a joint Landesbank As a result it was the first Landesbank to operate outside a single federal state s boundary In the year 2005 Helaba acquired Frankfurter Sparkasse and thereby entered further into private customer business which it had already conducted through its Darmstadt Branch and at its Kassel location through Landeskreditkasse zu Kassel In 2007 Jurgen Ruttgers and Roland Koch the minister presidents of North Rhine Westphalia and Hesse tentatively agreed on approving a merger of their respective state owned banks Helaba and WestLB 1 however WestLB was eventually broken up in 2012 after years of losses and controversy During his time in office CEO Hans Dieter Brenner later advocated a merger of Helaba with DekaBank the fund manager for the country s savings banks 2 In 2014 Helaba entered a joint venture with U S banking group BNY Mellon and the country s 25 largest savings banks to help corporate customers to expand foreign trade with Asia 3 In late 2018 it acquired Dexia Kommunalbank Deutschland the German unit of Franco Belgian bank Dexia for 352 million euros 398 million 4 Main articles 2011 European Union bank stress test and 2016 European Union bank stress test In July 2011 it was reported that Helaba would pull out of the EU s bank stress tests to avoid public failure 5 Governance editLegal form and owners edit Helaba has legal capacity as an institution incorporated under public law Owners and guarantors of Landesbank Hessen Thuringen are the Sparkassen und Giroverband Hessen Thuringen 85 Savings Banks and Giro Association of Hesse Thuringia the Federal State of Hesse 10 and the Free State of Thuringia 5 The governing bodies of the bank are the Owners Assembly the Supervisory Board and the Board of Managing Directors CEO of Landesbank Hessen Thuringen is Hans Dieter Brenner Board of Managing Directors edit Thomas Gross Dr Detlef Hosemann Hans Dieter Kemler Frank Nickel Christian Rhino Christian SchmidtFormer Chairs of the Board of Managing Directors edit Hans Herbert Gruntker 2015 2020 Hans Dieter Brenner 2009 2015 Dr Gunther Merl 2001 2008 Walter Schafer 1996 2001 Dr Hermann Adolf Kunisch 1995 1996 Dr Karl Kauermann 1993 1995 Dr Herbert J Kazmierzak 1985 1993 Heinz Sippel 1975 1985 Dr Wilhelm Hankel 1971 1973 Gustav Bothe 1971 Dr Wilhelm Conrad 1964 1971 Dr Herbert Lauffer 1953 1964 Headquarters editThe foundation stone of the Main Tower was laid in October 1996 Three years later the bank moved into the building With a height of 200 metres it is the fourth highest skyscraper in Frankfurt Earlier the bank was headquartered in the adjacent building now called Garden Towers Controversy editIn 2023 the European Central Bank fined Helaba with 6 83 million euro 7 29 million for consciously misrepresenting its exposure to turbulent financial markets during the COVID 19 pandemic so it would need less capital at the time this was the second largest levied by the ECB since taking over supervision of the euro zone s biggest lenders in 2014 6 References edit Beat Balzli Wolfgang Reuter and Steffen Winter November 20 2007 Trouble Ahead For State Owned Banks in Germany Bloomberg News Andreas Kroner August 26 2015 German Helaba chief floats idea of merger with Deka Bank Reuters Jonathan Gould and Andreas Kroner August 27 2014 Helaba BNY Mellon team up for German companies Asian push Reuters Arno Schuetze December 14 2018 Germany s Helaba to acquire Dexia s German unit for 398 million Reuters German bank Helaba to pull out of stress tests BBC 14 July 2011 Francesco Canepa 10 February 2023 ECB fines Germany s Helaba for misrepresenting risk Reuters External links edit nbsp Banks portalHelaba official website Helaba Invest Clippings about Helaba in the 20th Century Press Archives of the ZBW Retrieved from https en wikipedia org w index php title Helaba amp oldid 1138915822, wikipedia, wiki, book, books, library,
