View Annual Report

Total Page:16

File Type:pdf, Size:1020Kb

View Annual Report 2008 ANNUAL REPORT DZ BANK GROUP FINANCIAL SERVICES PROVIDER IN THE COOPERATIVE FINANCIAL SERVICES NETWORK 1,200 COOPER DZ BANK BANK BUSINESS SEGMENT RETAIL BUSINESS SEGMENT BUSINESS LINES BUSINESS LINES » Corporate Banking » Asset Management » Investment Banking » Retail & Private Banking » Process Management BRANDS AND MARKET POSITIONS IN GERMANY BRANDS AND MARKET POSITIONS IN GERMANY NO. 51 NO. 3 (RETAIL FUNDS) NO. 2 (EQUIPMENT LEASING)2 NO. 3 (SUBSIDIARIES OF NO. 2 (SUBSIDIARIES OF GERMAN BANKS IN IRELAND)1 GERMAN BANKS IN SWITZERLAND)1 NO. 3 (VOLUME OF NO. 1 (CREDIT PROCESSING) SPECIALIST CONSUMER FINANCE) NO. 1 (PROVIDER OF FOREIGN EXCHANGE AND INTERNATIONAL PAYMENT SERVICES) PRODUCT BRANDS PRODUCT BRANDS NO. 1 (GERMAN MARKET FOR CERTIFICATES) NO. 3 (VOLUME OF SPECIALIST CONSUMER FINANCE) « RATIVE BANKS GROUP DZ BANK Group REAL ESTATE FINANCE BUSINESS SEGMENT INSURANCE BUSINESS SEGMENT BUSINESS LINE BUSINESS LINE » Real Estate Finance » Insurance BRANDS AND MARKET POSITIONS IN GERMANY BRANDS AND MARKET POSITIONS IN GERMANY NO. 1 (HOME SAVINGS)2 NO. 2 (LIFE INSURANCE)2 1 Total assets 2 New business KEY FIGURES DZ BANK GROUP € million 2008 2007 FINANCIAL PERFORMANCE Operating profit/loss1 -929 1,277 Impairment losses on loans and advances -545 -209 Profit/loss before tax -1,472 1,068 Net profit/loss -1,055 897 Cost/income ratio (percent) > 100.0 66.9 FINANCIAL POSITION Assets Loans and advances to banks 70,036 67,531 Loans and advances to customers 117,021 106,307 Financial assets held for trading 114,443 130,025 Investments 66,322 72,957 Investments held by insurance companies 49,040 47,376 Other assets 10,228 7,141 Equity and liabilities Deposits from banks 59,632 57,935 Amounts owed to other depositors 77,516 77,595 Debt certificates including bonds 65,525 62,996 Financial liabilities held for trading 152,729 163,196 Insurance liabilities 48,205 45,324 Other liabilities 14,800 13,288 Equity 8,683 11,003 Total assets/total equity and liabilities 427,090 431,337 Volume of business2 601,794 637,391 REGULATORY CAPITAL RATIOS UNDER SOLVENCY REGULATION (SOLVV) Total capital ratio (percent) 9.7 10.2 Tier I capital ratio (percent) 7.4 7.7 DERIVATIVE FINANCIAL INSTRUMENTS Notional amount (€ million) 1,363,575 1,329,753 Positive fair values (€ million) 29,986 16,695 AVERAGE NUMBER OF EMPLOYEES DURING THE YEAR 24,642 24,210 1 Operating income (net interest income + net fee and commission income + gains and losses on trading activities + gains and losses on investments + other gains and losses on measurement of financial instruments + income from insurance business + other net operating income) less administrative expenses 2 Total assets including financial guarantee contracts and loan commitments, trust activities and assets under management of the Union Investment Group DZ BANK GROUP PARTNER TO THE GERMAN COOPERATIVE BANKING GROUP The DZ BANK Group forms part of the German coopera- tive financial services network, which comprises some 1,200 local cooperative banks and is one of Germany’s largest private-sector financial services organizations measured in terms of total assets. Within the cooperative financial services network, DZ BANK AG functions both as a central institution for around 1,000 cooperative banks and their 12,000 branch offices and as a corporate bank. The DZ BANK Group includes Bausparkasse Schwäbisch Hall, Deutsche Genossenschafts-Hypothekenbank (DG HYP), DZ BANK International, DZ PRIVATBANK Schweiz, R+V Versicherung, TeamBank, Union Investment Group, VR LEASING, and various other specialized institutions. With their strong brands, the companies of the DZ BANK Group constitute key pillars in the range of financial products and services offered by the cooperative financial services network. The collaboration between the compa- nies in the DZ BANK Group helps optimize the offering available to the cooperative banks and their 30 million or so clients. This combination of banking, insurance, home savings and personal investment products and services has a long and successful tradition in the cooperative financial services network. The specialized institutions in the DZ BANK Group provide top-class, highly competitive products at reasonable prices within their specific areas of expertise. This ensures that the cooperative banks in Germany are able to offer their clients a comprehensive range of outstanding financial services. DZ BANK 01 2008 ANNUAL REPORT CONTENTS CONTENTS 02 LETTER TO SHAREHOLDERS 06 BANK BUSINESS SEGMENT 25 RETAIL BUSINESS SEGMENT 30 REAL ESTATE FINANCE BUSINESS SEGMENT 33 INSURANCE BUSINESS SEGMENT 35 SELECTED PRODUCTS AND SERVICES FOR COOPERATIVE BANKS 41 DZ BANK’S 125TH ANNIVERSARY 49 GROUP MANAGEMENT REPORT 123 CONSOLIDATED FINANCIAL STATEMENTS 218 RESPONSIBILITY STATEMENT 219 AUDIT OPINION (TRANSLATION) 220 REPORT OF THE SUPERVISORY BOARD 223 ADVISORY COUNCILS 235 PRINCIPAL SHAREHOLDINGS OF DZ BANK 02 DZ BANK 2008 ANNUAL REPORT LETTER TO SHAREHOLDERS Wolfgang Kirsch, Chief Executive Officer LETTER TO SHAREHOLDERS DEAR SHAREHOLDERS, In 2008 the DZ BANK Group delivered a strong operating performance – especially in its business with the local cooperative banks and in its corporate banking activities – in what were unprecedented conditions in both the financial markets and the real economy. Although we too have been hit hard by the financial crisis and its effects, which have been impacting on the real economy for some time now, we intend to meet these challenges – and will do so – by drawing on the considerable resources of the cooperative financial services network. DZ BANK and the specialized service providers within the group continued to act as reliable and effective service providers for the cooperative banks in 2008. This demonstrates the efficiency and robustness of our business model as a financial services group with access to 30 million customers. This model is intact and sustainable. There are numerous examples of successful collaboration within the cooperative financial services network. In our lending to small and medium-sized enterprises, for example, which DZ BANK does in collaboration with the local cooperative banks, we achieved double-digit growth in new DZ BANK 03 2008 ANNUAL REPORT LETTER TO SHAREHOLDERS business in 2008. Our decentralized consulting and sales support concept proved its worth in what were challenging market conditions in the primary banks’ own-account investing activities. We are now the leader in the German market for investment certificates with a market share of more than 22 percent. Our investment research once again won a number of awards, and 2008 was an encouraging year for our transaction banking operations as well. A cursory glance at the specialized service providers in the DZ BANK Group reveals a positive picture. Bausparkasse Schwäbisch Hall reported new home savings business worth € 32 billion in 2008, which was its best-ever result. R+V’s life insurance business increased its new premium income by roughly 7 percent, which was a record. Union Investment is Germany’s largest provider of fund-based Riester savings products for over 1.7 million clients. The easyCredit consumer finance product offered by TeamBank attracted more than 30,000 new customers in 2008, which equated to year-on-year growth of approximately 8 percent. The volume of new equipment and vendor finance business generated by VR LEASING in 2008, in Germany and abroad, was in line with the high figure achieved in 2007. The transformation of DG HYP into a commercial real-estate lender made good progress. This successful collaboration between the specialized service providers in the DZ BANK Group and the cooperative banks is reflected in the level of commissions and bonuses received: at just under € 1.7 billion they remained virtually unchanged on the high figure reported for 2007 despite last year’s turmoil in the financial markets. These encouraging trends in our core business played out against a backdrop of unprecedented dislocations in the global economy that overshadowed our strong operating performance. Allowing for these effects in accordance with International Financial Reporting Standards (IFRS), the DZ BANK Group reported a loss before taxes of € 1.47 billion for 2008, having generated a profit before taxes of € 1.07 billion in 2007. It incurred a net loss of € 1 billion for the year under review compared with a net profit of just under € 900 million in the previous year. These figures were adversely impacted in particular by impairments of € 1.76 billion on bonds and asset- backed securities and by our exposures to Iceland (€ 451 million), Lehman Brothers (€ 364 million) and Natixis (€ 269 million). Excluding the effects of the financial crisis, the DZ BANK Group generated a profit before taxes of just under € 1.78 billion. Its Tier I capital ratio amounted to 7.4 percent compared with 7.7 percent in 2007. DZ BANK AG reported a net income for the year 2008 of € 59 million in accordance with the German Commercial Code (HGB). Consequently, it will be proposed to the Annual General Meeting that a dividend of 5 cents per share be paid compared with 13 cents in the previous year. One of the main advantages of the cooperative financial services network – as demonstrated by last year’s market turmoil – is its highly cohesive system of liquidity management. This entails DZ BANK performing a central function as liquidity manager for the local cooperative banks and our subsidiaries and as an interface to the international money and capital markets. We benefit – especially in the current economic climate – from the considerable and growing reputation of the cooperative principle, which is reflected in the growth of the cooperative banks’ deposits. We reckon we will need additional capital in the order of € 1 billion for 2009 to act as a cushion against the persistently high levels of uncertainty as to how the financial markets and the real economy will fare going forward. We are mitigating these adverse effects of the financial crisis by drawing on the resources already available in the cooperative financial services network.
Recommended publications
  • Fitch Revises Outlooks on German Cooperative Banks and DZ BANK to Stable; Affirms at 'AA-'
    01 JUL 2021 Fitch Revises Outlooks on German Cooperative Banks and DZ BANK to Stable; Affirms at 'AA-' Fitch Ratings - Frankfurt am Main - 01 Jul 2021: Fitch Ratings has revised Genossenschaftliche FinanzGruppe (GFG) and the members of its mutual support scheme, including GFG's central institution DZ BANK AG Deutsche Zentral-Genossenschaftsbank (DZ BANK) and 814 local cooperative banks, to Stable Outlook from Negative Outlook. Their Long-Term Issuer Default Ratings (IDRs) have been affirmed at 'AA-'. The revisions of the Outlooks reflect our view that the risk of significant deterioration of the operating environment, leading to a durable weakening of GFG's asset quality and profitability, has subsided since our last rating action in August 2020. GFG is not a legal entity but a cooperative banking network whose cohesion is ensured by a mutual support scheme managed by the National Association of German Cooperative Banks (BVR). GFG's IDRs apply to each member bank, in accordance with Annex 4 of Fitch's criteria for rating banking structures backed by mutual support schemes. The ratings are underpinned by the high effectiveness of the scheme given its long and successful record of ensuring GFG's cohesion, monitoring members' risks and enforcing corrective measures when needed. The scheme has effectively protected its members' viability and averted losses for their creditors since its inception. Fitch has also downgraded Deutsche Apotheker- und Aerztebank eG's (apoBank) Long-Term Deposit Rating because we no longer expect the bank's buffer of senior non-preferred and more junior debt to remain sustainably above 10% of risk weighted assets (RWAs) as the bank is not required to maintain resolution debt buffers.
    [Show full text]
  • Festspielsommer NATURPARK OBERER BAYERISCHER WALD
    Festspielsommer NATURPARK OBERER BAYERISCHER WALD BAD KÖTZTING SCHORNDORF WALDMÜNCHEN RÖTZ FURTH IM WALD FALKENSTEIN RIMBACH 2019 | www.bayerischer-wald.org festspielsommer_titel_2019.indd 1 10.01.19 14:52 Kultur- und Konzerthaus Blaibach Besonderer Musikgenuss im einzigartigen Konzerthaus im Bayerischen Wald Programm/Termine und Infos: www.blaibach.de / [email protected] Tourist-Info Blaibach: Tel. 0 99 41/94 50 13 Kirchplatz 6, 93476 Blaibach Programm/Termine und Infos: www.konzert-haus.de / [email protected] Kulturwaldbüro: Tel. 0 99 41/9 49 50 65 Kirchplatz 2, 93476 Blaibach Sarah Sternkopf 15.-18. august 2019 Mittelaltermarkt mit Turnierkämpfen Programm unter www.cave-gladium.de Oder in einer von über 250 Vorverkaufsstellen erhalten. 2 1 2 3 4 Festspiele im Landkreis Cham Starke Vorstellungen Einzigartiger Festspielsommer im Landkreis Cham „Dem Bayern ist das Leben ein täglich sich erneuerndes Fest.“ Hermann Bahr meint mit dieser Aussage aber nicht nur das bayerische Ur-Talent zum Gestalten von Festen und Feiern, sondern auch die ganz besondere Veranlagung fürs Theaterspielen. Wer ein Festspiel im Sinn hat, dem fehlt es im Landkreis Cham nicht an Personal. Und wer für diese Behauptungen Beweise sucht, der findet sie mit Sicherheit. Sieben Festspielorte zählt man hier und allein schon die traumhaften Kulissen sind einen Besuch wert. „Ein grauenvolles Untier wird sich erheben und Tod und Verwüstung bringen“ so kündet eine uralte Prophezeiung. Lebendig wird sie alljährlich im August beim „Further Drachenstich“ , Deutschlands ältestem Volksschauspiel. Nichtsdestotrotz wird auch in diesem Jahr der High-Tech-Drache vom furchtlosen Ritter Udo besiegt und das Leben der Ritterin gerettet werden. Bedingungslose Treue und glühende Verehrung zu seiner Kaiserin Maria Theresia ist Ansporn des berüchtigten „Trenck der Pandur“ .
    [Show full text]
  • +01 Text Edeka
    Kapitel 2 / Mechanismen und Folgen / Wo ist das Problem? Edeka Die Edeka-Gruppe (Eigenschreibweise: EDEKA) ist 1923 begann im Unternehmen die Zentralverrech- seit 2005 durch die Übernahme der Spar-Handels- nung. 1931 erreichten die Umsätze der inzwischen gesellschaft der größte Verbund im deutschen 430 Genossenschaften die Summe von 267 Millionen Einzelhandel. Eigentümer der Edeka-Gruppe sind Reichsmark. Die Stimmenverluste der Wirtschafts- Genossenschaften, in denen sich selbständige partei im Jahr 1932 lösten einen Druck der Edeka- Einzelhändler*innen zusammengeschlossen haben. Genossen auf die Verbandsführung aus, sich mehr Regionalgesellschaften sind für das Großhandelsge- den Positionen der Nationalsozialisten zuzuwen- schäft verantwortlich und beliefern die selbständi- den, doch die NSDAP honorierte das nicht. Ab 1933 gen Händler*innen wie die Filialbetriebe, die über stand Edeka mit seinen Genossenschaften unter die Regionalgesellschaften oder die Edeka-Zentrale Druck. Die Edeka-Gruppe forderte ihre Mitglieder AG & Co KG zur Gruppe gehören oder mit ihr ko- auf, den NS-„Kampfbünden für den gewerblichen operieren. Mittelstand“ beizutreten. Am 18. April erklärte sie freiwillig ihre Gleichschaltung mit der Folge, dass Geschichte ein Erster und ein Zweiter Präsident, jeweils mit Anfangszeit NSDAP-Parteibuch, dem Generaldirektor auf die Finger sahen. Borrmann wurde 1933 Parteimitglied. Die Edeka-Gruppe entstand 1898, als sich 21 Ab 1936 wurde das Handeln des Unternehmens Einkaufsvereine aus dem Deutschen Reich im dirigistisch reglementiert. Halleschen Torbezirk in Berlin zur Einkaufsgenos- Das Geschäftsgebiet von Edeka wurde auf das Saar- senschaft der Kolonialwarenhändler im Halleschen land und nach dem so genannten „Anschluss“ auch Torbezirk zu Berlin – kurz E. d. K. – zusammen- auf Österreich ausgedehnt. 1937 schied Borrmann schlossen. als Generaldirektor aus und Paul König übernahm Dreizehn solcher Genossenschaften vereinigten (bis 1966) dessen Funktion.
    [Show full text]
  • Unternehmensbericht 2013 Unternehmensbericht 2013 EDEKA-Verbund Der EDEKA-Verbund – „Unternehmer-Unternehmen“ Und Treibende Kraft Im Deutschen Lebensmittelhandel
    Unternehmensbericht 2013 EDEKA-Verbund EDEKA-Verbund ∙ Unternehmensbericht 2013 Unternehmensbericht ∙ EDEKA-Verbund Der EDEKA-Verbund – „Unternehmer-Unternehmen“ und treibende Kraft im deutschen Lebensmittelhandel Seit Jahrzehnten prägt der EDEKA-Verbund maßgeblich die Entwicklungen in der deutschen Lebensmittelwirtschaft. Mit ausgefeilten Strategien, dem ihm traditionell innewohnenden Unternehmergeist sowie einem ausgeprägten Innovationswillen. Ein eingespieltes Team aus mehr als 4.000 selbstständigen Kaufleuten, sieben regiona- len Großhandelsbetrieben und der Hamburger EDEKA-Zentrale repräsentiert dabei die unverkennbare Struktur aus drei leistungsstarken und flexibel agierenden Ver- bundstufen. Angetrieben von dem genossenschaftlichen Auftrag zur kontinuierlichen Schaffung und Förderung mittelständischer Betriebe im Lebensmitteleinzelhandel. Als der qualifizierte Nahversorger Deutschlands steht EDEKA für generationenüber- greifenden, nachhaltigen und ökonomisch verantwortungsvollen Handel. Umsatzentwicklung EDEKA-Verbund Nettoumsätze in Mrd. € 2009* 2010* 2011* 2012 2013 % Selbstständiger Einzelhandel 17,0 18,4 20,0 21,3 22,6 5,8 Regie-Einzelhandel 9,1 8,6 8,4 8,3 8,0 -3,7 Netto Marken-Discount 9,9 10,4 10,7 11,3 11,8 4,5 Backwaren-Einzelhandel 0,6 0,6 0,7 0,7 0,7 -1,2 Lebensmitteleinzelhandel 36,6 38,1 39,8 41,6 43,0 3,4 C+C / Großverbrauchergeschäft 1,7 1,7 1,9 1,9 1,9 0,2 Drittumsätze 1,4 1,5 1,5 1,3 1,3 -1,7 EDEKA-Verbund gesamt 39,7 41,2 43,2 44,8 46,2 3,1 * bereinigt um Umsätze von NETTO Stavenhagen und Kooperationspartnern
    [Show full text]
  • Comparison of Alternate Cooling Technologies for California Power Plants Economic, Environmental and Other Tradeoffs CONSULTANT REPORT
    Merrimack Station AR-1167 CALIFORNIA ENERGY COMMISSION Comparison of Alternate Cooling Technologies for California Power Plants Economic, Environmental and Other Tradeoffs CONSULTANT REPORT February 2002 500-02-079F Gray Davis, Governor CALIFORNIA ENERGY COMMISSION Prepared By: Electric Power Research Institute Prepared For: California Energy Commission Kelly Birkinshaw PIER Program Area Lead Marwan Masri Deputy Director Technology Systems Division Robert L. Therkelsen Executive Director PIER / EPRI TECHNICAL REPORT Comparison of Alternate Cooling Technologies for California Power Plants Economic, Environmental and Other Tradeoffs This report was prepared as the result of work sponsored by the California Energy Commission. It does not necessarily represent the views of the Energy Commission, its employees or the State of California. The Energy Commission, the State of California, its employees, contractors and subcontractors make no warrant, express or implied, and assume no legal liability for the information in this report; nor does any party represent that the uses of this information will not infringe upon privately owned rights. This report has not been approved or disapproved by the California Energy Commission, nor has the California Energy Commission passed upon the accuracy or adequacy of the information in this report. Comparison of Alternate Cooling Technologies for California Power Plants Economic, Environmental and Other Tradeoffs Final Report, February 2002 Cosponsor California Energy Commission 1516 9th Street Sacramento, CA 95814-5504 Project Managers Matthew S. Layton, Joseph O’Hagan EPRI Project Manager K. Zammit EPRI • 3412 Hillview Avenue, Palo Alto, California 94304 • PO Box 10412, Palo Alto, California 94303 • USA 800.313.3774 • 650.855.2121 • [email protected] • www.epri.com DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITIES THIS DOCUMENT WAS PREPARED BY THE ORGANIZATION(S) NAMED BELOW AS AN ACCOUNT OF WORK SPONSORED OR COSPONSORED BY THE ELECTRIC POWER RESEARCH INSTITUTE, INC.
    [Show full text]
  • Recipe for Social Security Why a Universal Basic Income Could Be a Model for Germany
    Special Topic: Sustainability 01 2017 The research magazine of the University of Freiburg | www.wissen.uni-freiburg.de Recipe for Social Security Why a universal basic income could be a model for Germany Setting the record straight: Shaping the future: Coordinating stimuli: Why a newly discovered virus Why citizens and researchers Why nerve cells have to in bats is not dangerous are brainstorming ideas for communicate closely to for humans > page 8 sustainability in Freiburg > page 20 trigger movement > page 40 01 2017 Bundesweit für Sie da: Mit Direktbank und wachsendem Filialnetz. Contents Research A Model for Human Dignity 4 Karl Justus Bernhard Neumärker’s research suggests that a universal basic income would have a chance in Germany Who’s Afraid of Vampire Flu? 8 1 A newly discovered virus in bats Für mich: das kostenfreie Bezügekonto is not transmittable to humans All at the Same Time 12 1 Voraussetzung: Bezügekonto mit Online-Überweisungen; Genossenschaftsanteil von 15,– Euro/Mitglied. University of Freiburg psychologists are searching Banken gibt es viele. Aber die BBBank ist die einzige bundesweit tätige genossenschaftliche for strategies to facilitate multitasking Privat kundenbank, die Beamten und Arbeit nehmern des öffentlichen Dienstes einzigartige Angebote macht. Zum Beispiel das Bezügekonto mit kostenfreier Kontoführung.1 Special Topic: Sustainability Informieren Sie sich jetzt über die vielen weiteren Vorteile Ihres neuen Kontos unter An Interdisciplinary Thread 16 Tel. 0 800/40 60 40 160 (kostenfrei) oder www.bezuegekonto.de
    [Show full text]
  • Stadtarchiv Wuppertal ND 1 Marie-Luise Baum
    Stadtarchiv Wuppertal ND 1 Marie-Luise Baum Inhaltsverzeichnis VORWORT .............................................................................................................................................................. 4 KORRESPONDENZEN ........................................................................................................................................... 5 LEBENSDOKUMENTE ......................................................................................................................................... 23 SAMMLUNGEN UND OBJEKTE .......................................................................................................................... 30 WERKE ................................................................................................................................................................. 43 Vorwort Vorwort Marie-Luise Baum, geb. am 21.05.1887 in Hadersleben, gest. am 07.06.1979 in Wuppertal, Bibliothekarin, Eh- renmitglied des Bergischen Geschichtsvereins und Verfasserin biographischer Arbeiten zur Wuppertaler Ge- schichte. Der Nachlass hat einen Umfang von 12 Archivkartons. Korrespondenzen ND 1 Nr. 81 Korrespondenz, Materialien und Beiträge 1790 - 1816; über Carl Aders (1780-1846) und die Familie Aders; (1823 - 1825; Originalbriefe von Angehörigen der Familie Aders 1923); 1938 - Alte Archivsignatur: NDS 1972 1 Karton 12 Nr. 61 Stammbaum von Johann Kaspar Aders; Kor- respondenz vor allem mit Prof. Dr. Hertha Marquardt betr. einen gemeinsamen Beitrag über Carl Aders, mit
    [Show full text]
  • Annual Financial Statements and Management Report of DZ BANK AG
    2017 Annual Financial Statements and Management Report of DZ BANK AG DZ BANK AG 1 2017 Annual Financial Statements and Management Report Contents Contents 02 Management report of DZ BANK AG 06 DZ BANK AG fundamentals 16 Business report 30 Events after the balance sheet date 32 Human resources report and sustainability 38 Outlook 44 Combined opportunity and risk report 152 Annual financial statements of DZ BANK AG 154 Balance sheet as at December 31, 2017 156 Income statement for the period January 1 to December 31, 2017 158 Notes 212 Responsibility statement 213 Independent auditors’ report (translation) 2 DZ BANK AG 2017 Annual Financial Statements and Management Report Management report of DZ BANK AG Contents Management report of DZ BANK AG 06 DZ BANK AG fundamentals 30 Events after the balance sheet date 06 Business model 32 Human resources report 07 Strategic focus as a network-oriented and sustainability central institution and financial services group 32 Human resources report 07 Cooperative Banks / Verbund 32 HR work in the year of the migration 08 Corporate Banking 32 Professional development 08 Retail Banking 32 Training and development of young talent 09 Capital Markets 33 Health management 09 Transaction Banking 33 Work-life balance 33 TeamUp trainee program 10 Management of DZ BANK 33 ‘Verbund First’ career development program 10 Management units 33 Corporate Campus for Management & Strategy 10 Governance 34 DZ BANK Group’s employer branding campaign 13 Key performance indicators 34 Employer awards 13 Management process 34
    [Show full text]
  • Rebuilding the Soul: Churches and Religion in Bavaria, 1945-1960
    REBUILDING THE SOUL: CHURCHES AND RELIGION IN BAVARIA, 1945-1960 _________________________________________________ A Dissertation presented to the Faculty of the Graduate School at the University of Missouri-Columbia _________________________________________________ In Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy _________________________________________________ by JOEL DAVIS Dr. Jonathan Sperber, Dissertation Supervisor MAY 2007 © Copyright by Joel Davis 2007 All Rights Reserved The undersigned, appointed by the dean of the Graduate School, have examined the dissertation entitled REBUILDING THE SOUL: CHURCHES AND RELIGION IN BAVARIA, 1945-1960 presented by Joel Davis, a candidate for the degree of Doctor of Philosophy, and hereby certify that, in their opinion, it is worthy of acceptance. __________________________________ Prof. Jonathan Sperber __________________________________ Prof. John Frymire __________________________________ Prof. Richard Bienvenu __________________________________ Prof. John Wigger __________________________________ Prof. Roger Cook ACKNOWLEDGEMENTS I owe thanks to a number of individuals and institutions whose help, guidance, support, and friendship made the research and writing of this dissertation possible. Two grants from the German Academic Exchange Service allowed me to spend considerable time in Germany. The first enabled me to attend a summer seminar at the Universität Regensburg. This experience greatly improved my German language skills and kindled my deep love of Bavaria. The second allowed me to spend a year in various archives throughout Bavaria collecting the raw material that serves as the basis for this dissertation. For this support, I am eternally grateful. The generosity of the German Academic Exchange Service is matched only by that of the German Historical Institute. The GHI funded two short-term trips to Germany that proved critically important.
    [Show full text]
  • EMS Counterparty Spreadsheet Master
    1 ECHO MONITORING SOLUTIONS COUNTERPARTY RATINGS REPORT Updated as of October 24, 2012 S&P Moody's Fitch DBRS Counterparty LT Local Sr. Unsecured Sr. Unsecured Sr. Unsecured ABN AMRO Bank N.V. A+ A2 A+ Agfirst Farm Credit Bank AA- AIG Financial Products Corp A- WR Aig-fp Matched Funding A- Baa1 Allied Irish Banks PLC BB Ba3 BBB BBBL AMBAC Assurance Corporation NR WR NR American International Group Inc. (AIG) A- Baa1 BBB American National Bank and Trust Co. of Chicago (see JP Morgan Chase Bank) Assured Guaranty Ltd. (U.S.) A- Assured Guaranty Municipal Corp. AA- Aa3 *- NR Australia and New Zealand Banking Group Limited AA- Aa2 AA- AA Banco Bilbao Vizcaya Argentaria, S.A. BBB- Baa3 *- BBB+ A Banco de Chile A+ NR NR Banco Santander SA (Spain) BBB (P)Baa2 *- BBB+ A Banco Santander Chile A Aa3 *- A+ Bank of America Corporation A- Baa2 A A Bank of America, NA AA3AAH Bank of New York Mellon Trust Co NA/The AA- AA Bank of North Dakota/The AA- A1 Bank of Scotland PLC (London) A A2 A AAL Bank of the West/San Francisco CA A Bank Millennium SA BBpi Bank of Montreal A+ Aa2 AA- AA Bank of New York Mellon/The (U.S.) AA- Aa1 AA- AA Bank of Nova Scotia (Canada) AA- Aa1 AA- AA Bank of Tokyo-Mitsubish UFJ Ltd A+ Aa3 A- A Bank One( See JP Morgan Chase Bank) Bankers Trust Company (see Deutsche Bank AG) Banknorth, NA (See TD Bank NA) Barclays Bank PLC A+ A2 A AA BASF SE A+ A1 A+ Bayerische Hypo- und Vereinsbank AG (See UniCredit Bank AG) Bayerische Landesbank (parent) NR Baa1 A+ Bear Stearns Capital Markets Inc (See JP Morgan Chase Bank) NR NR NR Bear Stearns Companies, Inc.
    [Show full text]
  • 62 21 Diez.De
    2020 Schiede 20 (2. OG) | 65549 Limburg | Fon +49 (0) 64 31 / 29 62 21 E-Mail [email protected] | www.wfg-limburg-weilburg-diez.de Die Region Limburg-Weilburg hat viel zu bieten. Egal, ob Sie zu einer Tages- oder Wochenendtour, für einen längeren Urlaub oder auch geschäftlich in unsere Region kommen - es gibt eine Vielzahl von Möglichkeiten der Freizeitgestaltung. Das Lahntal zwischen den Städten Limburg und Weilburg ist eine der romantischsten Flusslandschaften Deutschlands. Beim Wasser- wandern auf der Lahn mit dem Kanu gibt es Burgen, Schlösser und den einzigen Schiffstunnel Deutschlands zu entdecken. Der nördlich angrenzende Westerwald ist eine herrliche Mittel- Gebirgslandschaft, die weitab von Industrie, Lärm und Hektik ruhige Stunden und viel Erholung garantiert. Über 200 Kilometer markierte Wanderwege laden hier zu Ausflügen in die Natur ein. Im südlich angrenzenden Taunus bildet das Kneippheilbad Bad Camberg mit seinem Kurpark und diversen Kurkonzerten sowie dem historischen Amthof den Mittelpunkt des Tourismus. Darüber hinaus verbinden über 600 Kilometer ausgeschilderte Radwanderwege das Lahntal mit dem Westerwald und dem Taunus. In dieser Broschüre haben wir für Sie jede Menge Ausflugstipps zusammengefasst und möchten Ihnen gerne die eine oder andere Anregung für einen interessanten und kurzweiligen Aufenthalt ge- ben, bei dem sowohl aktive Naturgenießer als auch Kulturliebhaber auf ihre Kosten kommen. Wir freuen uns auf Ihren Besuch und wünschen schon heute viel Spaß im Lahntal zwischen Westerwald und Taunus. Inhaltsverzeichnis Bad Camberg S. 8 - 9 Beselich S. 9 - 10 Brechen S. 10 - 11 Brechen - Niederbrechen Brechen - Oberbrechen Diez S. 11 - 13 Dornburg S. 13 - 14 Dornburg - Frickhofen Dornburg - Tahlheim Dornburg - Wilsenroth Elbtal S.
    [Show full text]
  • Frank Westhoff Former Member of the Board of Managing Directors of DZ BANK AG
    Curriculum Vitae Frank Westhoff Former Member of the Board of Managing Directors of DZ BANK AG Personal data Place of residence Eppstein Dates of birth 12.06.1961 in Wolfsburg Nationality German Independence (+) Member of the Supervisory Board of Commerzbank Initial appointment 05/2021 Curr. term of office General Annual Meeting 2021 – 2023 Committees Risk Committee (Chairman) Audit Committee Compensation Control Committee Competences and experiences Extensive knowledge of the European banking market, especially in corporate and real estate-oriented customer business. Far-reaching experience in the finance and risk management of large banks as a long-standing head of risk of one of the largest German banks. Comprehensive supervisory board practice as supervisory board/chairman of various companies in the financial sector between 2004 and 2019. Long-term career in banking with experience in customer service, risk and bank management as well as accompanying strategy and consolidation programs. Career highlights 2002– 2017 DZ BANK AG 2006 – 2017 Member of the Board of Managing Directors, Chief Risk Officer, Credit Department, risk controlling, compliance and various regions and customers, Frankfurt/Main 2002 – 2006 Department Head for Business Analysis, Chief Credit Officer, Frankfurt/Main 1990 – 2002 Deutsche Bank AG 2002 Director for the southern region, Munich 1996 – 2001 Head of Strategy/Structure/Processes in the credit department, Senior Credit Officer, Director, Frankfurt/Main 1995 – 1996 Head of Corporate Clients Austria, Vienna 1991
    [Show full text]