Landesbank Baden-Württemberg

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Landesbank Baden-Württemberg
Type Public
Industry Financial services
Founded 1 January 1999 (1 January 1999)
Headquarters Stuttgart, Germany
Key people Hans-Jörg Vetter
Products Investment banking, Commercial banking, Retail banking, Private banking, Asset management
Revenue $21 billion (2010)
Employees 13,369 (December 31, 2008)
Website www.lbbw.de

Landesbank Baden-Württemberg (LBBW) is a parent company of three commercial banks and the Landesbank for some Federal States of Germany. Among LBBW's subsidiaries is LBBW Luxemburg S.A., which is engaged in litigation against the American bank Wells Fargo as of 2012.[1]

History[edit]

On 1 January 1999, Landesbank Baden-Württemberg (LBBW) was formed through the merger of SüdwestLB, Landesgirokasse, and the commercial banking business of L-Bank.

On 1 August 2005, Baden Württembergische Bank (BW-Bank) was incorporated into LBBW as a legally dependent institution under public law. Also as a legally dependent institution under public law, the former Landesbank Rheinland-Pfalz was integrated in the LBBW Group on 1 July 2008 under the new name Rheinland-Pfalz Bank and on 1 April 2008, the LBBW group concentrated its activities in Central Germany (Thuringia, Saxony-Anhalt and Saxony) under the umbrella of Sachsen Bank - former Sachsen LB.

LBBW is a full-service and commercial bank and central bank for savings banks in Baden-Württemberg, Rhineland-Palatinate and Saxony. The company focuses on industrial technologies, information technology, software, telecommunication, innovative services and life science. It prefers to invest in Southern Germany, but also considers investments within Germany, Austria and Switzerland.[2]

References[edit]

  1. ^ Mark Calvey (October 2, 2012), German bank sues Wells Fargo alleging $1.5 billion securities fraud, San Francisco Business Times, retrieved November 6, 2012 
  2. ^ "LBBW Venture Capital GmbH: Private Company Information - BusinessWeek". investing.businessweek.com. Retrieved 2 March 2011. 

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