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The HypoVereinsbank AG (HVB Group) (correctly: Bavarian Hypo and association bank AG) second largest private German Kreditinstitut is and with the bank Austria Creditanstalt market leader in Austria. It has its seat in Munich and is member the cash Group. In the middle of June 2005 was taken over the HVB for approximately 20 billion EUR by the May countries major bank UniCredit, which holds since then 93.93% of the portions.
Speaker of the executive committee is Dr. Wolfgang Sprissler, which is further members in the executive committee: Johann Berger, Willibald Cernko, Rolf Friedhofen, Heinz Laber, Ronald Seilheimer, Matthias Sohler, Andrea Umberto Varese and Andreas Dr. Stefan Schmittmann is deputy member of the executive committee. Chairman of the supervisory board is Alessandro Profumo
The bankers' syndicate busily approx. 66,500 coworkers and has 2,100 branches and over 8.5 million customer. The bank is particularly in Germany, Austria and in central and Eastern Europe active, whereby it concentrates on the European private and firm customer business, as well as on related to customers capital market activities. It was a mixed mortgage bank, so that it operated the entire banking transaction also under validity of the mortgage bank legislation as Universalbank, but when mortgage bank was also justified to emit mortgage bonds.
The roots of the company go back up to the establishment of the Bavarian state bank 9 1780, as apply today however 18 June 1835, which day, on which king Ludwig I. approves the establishment of the Bavarian hypotheken and exchange bank (later usually Hypo bank called). 1869 follow the establishment of the second branch of the HVB, the Bavarian association bank. Both institutes grow up gradually money houses operating too Germany far.
1971 were merged the Bavarian state bank 9 on the Bavarian association bank AG.
1981 refer the Hypo bank its new company headquarters, the Hypo house in the resident of Munich the north. It is until today one of the largest locations of the entire company.
the Hypobank reveals 1996 for the first time with real estate businesses in East Germany to have made a bad speculation itself. Admits already was this to the executive committee of the bank for the spring 1994. The balances of the bank were since then several years wrong.
1998 decides association and Hypobank their fusion, in order to form from Munich a counterweight to the Frankfurt major banks. This is done via fusion of the Bavarian hypotheken and exchange bank AG on the Bavarian association bank corporation, which thereupon in Bavarian Hypo and association bank corporation umfirmiert.
But already in the same year the again-created HypoVereinsbank must communicate special depreciations of 3,5 billion DM from East German real estate financings of the Hypo. On the part of the association bank is accused to the Hypo managers to have its Institut "rich-counted" in order to reach "merger OF equals" (fusion of equivalent ones), into which highest leadership levels of the bank are since then nearly only represented (Pikanterweise become public in January 2005 equivalent 2.5 billion euro association bank refuse dumps).
1999 were inaugurated of the HVB donated chair for mathematics of finance at the technical University of Munich; since that time the bank with the university in the area of the research co-operates closely.
In the year 2000 the HVB receives its current shape to the bank Austria Creditanstalt by the assumption of the Austrian market leader.
Starting from the year 2003 the bank operates the complete integration by the majority of the association and west bank AG in Hamburg, being located in their possession (at this time approx. 75%). Succeeds acquiring through free-handled acquisition of further shares the bank in the spring 2004 a participation from over 95% to and to operate thus a Squeeze Out of the minority shareholders. After Squeeze Out on 14 January 2005 the association and west bank AG (Hamburg) are finally merged on the bank.
To 30. May 2005 becomes public that fusion discussions with the Italian major bank Unicredit already are "in a advanced stage". Years long the HVB was after-said, to it is missing the necessary size, in order to exist in a globalisierten Bankenmarkt alone, but always failed to fusion efforts, in particular with the Commerzbank.
The UniCredit offered five own new shares in the context of a friendly assumption for an old HVB share. Due to the large acceptance of the assumption offer the UniCredit holds since then for 93.93% of the shares of the HVB. An opponent of the Zusammengehen with the UniCredit was the supervisory board chairman at that time and former executive committee speakers Dr. Dr. Albrecht Schmidt, which laid down its mandate in this connection. Filters further shareholder supervisory boards, in order to make place for representatives of the UniCredit, five of them laid down their mandate in response into the board OF Directors (comparable the supervisory board) the UniCredit were ordered, the there presidency took over the past executive committee speaker of the HVB Dieter Rampl.
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