HypoVereinsbank-UniCredit Bank AG

HypoVereinsbank-UniCredit Bank AG
Type Subsidiary of Unicredit
Industry Finance and Insurance
Headquarters Munich, Germany
Key people Theodor Weimer since April 2008
Revenue €[citation needed]


Hypo-Haus, HypoVereinsbank's headquarters in Munich
UniCredit Bank Aktiengesellschaft (formerly Bayerische Hypo- und Vereinsbank AG, commonly referred to as HypoVereinsbank or HVB) is the sixth-largest private German financial institution, with a strong presence in Bavaria.
The company is based in Munich and, together with Deutsche Bank, Dresdner Bank, Commerzbank and Deutsche Postbank, it belongs to the Cash Group. The UniCredit Bank AG group employs some 18,000 people, operates approximately 780 branches, and has more than 8.5 million clients. The bank's business focuses on Germany. The spokesman for the executive board is currently Theodor Weimer. Other board members are: Peter Buschbeck, Lutz Diederichs, Heinz Laber, Peter Hofbauer, Andrea Umberto Varese and Andreas Wölfer.


HVB Group was formed in 1998 from the merger of Bayerische Vereins-bank AG and Bayerische Hypotheken- und Wechsel-Bank AG, which were the two main Bavarian-based regional banks at that time.[1] On 24 November 2005 its takeover by UniCredit Group was completed after an offer of five new UniCredit shares for one Hypo- und Vereinsbank share was accepted by shareholders representing 93.93% of the company.

In 2012, the HypoVereinsbank turned to a topic in the media, following the charges about tax evasion reported by Gustl Mollath.
On November 29, 2012, the tageschau/ARD reported about a main raid in the Munich headquarter as well as in 12 other buildings.[2] According to the tagesschau, the Süddeutsche Zeitung is reporting about the raid that happened on November 28. More than 60 prosecutors, tax investigators and police detectives have raided the Bank, so the newspaper quoted by the tagesschau. That article in the SZ was written by Thomas Fromm and Klaus Ott[3] and was also quoted by the SPIEGEL[4] the very same day. According to the Süddeutsche Zeitung on Nov 30 2012, the prosecution department that raided the Munich headquarter as well as buildings on 12 other places was the general prosecution department Frankfurt.