frankfurt the long time one ECUThe politician Ulrich Reuter will become the new director of the German Savings and Bank Association (DSGV) at the beginning of 2024. The presidents of the regional savings bank associations agreed on Monday in a joint meeting “with a large majority” to Reuter as a candidate for the position, the DSGV announced.

“You propose Professor Reuter to all other eligible voters.” The final decision will be made in the first quarter at a general meeting of the DSGV.

There are 21 voters. In addition to the eleven regional savings bank associations, there are seven representatives from state banks and three from central municipal associations.

The municipalities are the sponsors of the around 360 Savings Banks nationwide and, therefore, are owners in a similar position. With the regional savings bank presidents probably coordinating with their state banks, Reuter’s choice is now only a matter of form.

The DSGV Chairman has great influence in the Sparkassen-Finanzgruppe and beyond. At the end of 2021, the public law institutes represented by the DSGV had a combined turnover of 3.3 billion euros and employed 284,800 people. This makes the savings banks the largest financial group in Germany Germanybut not a hierarchically managed group.

Eintracht Frankfurt fan with Deutsche Bank past

The individual institutes and regional associations are independent and regularly discuss with each other, both among themselves and with the DSGV. Tensions remain high, especially between savings banks and state banks.

>> Read here: Schleweis, President of Savings Banks: “Inflation is destroying assets every day”

The Savings Banks have been working behind the scenes for months to find the successor helmut schleweis wrestled, whose term ends at the end of 2023. Within the group, many officials are angry that the decision on important personnel has dragged on for so long.

Schleweis himself had demanded a quick decision from the relevant bodies in December, so that “the least possible harmful speculation arises”. According to financial circles, the 68-year-old indicated internally that he would be available for another year or two if no solution was found. However, several influential regional presidents rejected such an interim solution and therefore agreed with Reuter.

The doctor of law has been in charge of the Bavarian Savings Bank Association since 2021. Before that, the 60-year-old was for the ECU 18-year-old district administrator in Aschaffenburg and in this role on the board of Sparkasse Aschaffenburg-Alzenau for several years.

Ulric Reuter

The president of the Bavarian Savings Bank Association will become the new head of DSGV.

(Photo: IMAGO/Stephan Görlich)

He is also a member of the board of directors of the Bavarian Savings Bank Association and was chairman of the association’s assembly. Reuters has also gained experience in the private banking sector: from 1993 to 2001 he worked for german bank.

Reuters Rejects Cryptocurrency Offers for Savings Bank Clients

As president of the Bavarian Savings Banks, Reuter presented himself with strong views. A year ago he went ahead with the rejection of cryptocurrencies. From the beginning he spoke out against such an offer for savings bank clients, at a time when the financial group was still struggling to find a common position. In June 2022, the DSGV followed the ideas of Reuters and recommended to all savings banks not offer your clients to trade cryptocurrencies.

Born in Aschaffenburg, he considers himself connected to his homeland and has no problem if he sometimes offends during football discussions in Munich. His heart beats for Eintracht Frankfurt and not for Bayern Munich.

In addition to Reuters, according to informants, also Liane Buchholz, President of the Westphalia-Lippe Savings Bank Association, expressed interest in the position of head of DSGV. She would have been the first woman in charge of the Association of Savings Banks.

>> Read here: “Protect customers from untold risks”: Savings banks do not want to offer crypto trading

One of the things he spoke for the 57-year-old was that he had been in charge since 2017. With the merger of insurers Provincial Rhineland and Provincial Northwest and the upcoming merger of Landesbausparkassen West and Nord, Buchholz has already shown that he can give shape things. He also knows the Berlin trading floor well as a former general manager of the Federal Association of Public Banks.

However, there are some decision-makers in the savings bank organization who view Buchholz with a critical eye and do not trust her to bring the organization together. The criticisms concern, among other things, Buchholz’s behavior in the reform of the joint security system of savings banks and state banks in 2021.

At the time, Buchholz had demanded in a joint letter with other regional presidents that savings banks should no longer be responsible for state banks. In his own regional association, which has been critical of state banks since the liquidation of WestLB in 2012 at the latest, Buchholz received applause for this. Other regional savings bank associations, which are still involved in state banks, found the letter lacking in solidarity.

No progress in the consolidation of Landesbanks

The current president of the savings bank, Schleweis, has led the DSGV since 2018. At that time he succeeded Georg Fahrenschon, who had to resign due to a tax matter. After his chaotic departure, Schleweis restored calm. In addition, the group of savings banks participated in the rescue of the NorthLB and began a fundamental overhaul of its security system.

However, Schleweis also failed to make progress on one of its most important projects, the consolidation of the Landesbanken sector. Many savings banks hope that Reuters will continue with this theme and end up being more successful than its predecessor.

More: More and more banks and savings banks are canceling customer bank accounts.

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