Binder Grösswang Advises Wüstenrot Group on Establishment of Bank for Private Customers
The Wüstenrot group wants to offer its customers a complete range of financial services as a one-stop provider, and to this purpose is establishing its own bank for private customers. Wüstenrot applied to the supervisory authority for the necessary licence in December 2020. Binder Grösswang comprehensively advised the Wüstenrot group on the preparation and submission of the licence application.
Binder Grösswang Partner Stephan Heckenthaler says: “We are pleased that we were able to successfully support the Wüstenrot group with this important strategic step, thus concluding the year 2020 ‒ a challenging year in many respects ‒ with this milestone in Wüstenrot’s project.”
The Binder Grösswang team is supporting the Wüstenrot group in the intensive preparations for establishing its own bank for private customers and in obtaining the necessary licence. Binder Grösswang’s counsel encompasses, for example, representation vis-à-vis the European Central Bank and the Austrian supervisory authorities (FMA and OeNB).
With this project, Binder Grösswang is once again demonstrating its expertise in dealing with complex banking regulatory issues.
The Binder Grösswang team led by Stephan Heckenthaler (partner, banking & finance) also includes Stefan Frank (counsel, banking & finance) and Andreas Perkonig (associate, banking & finance).