Volkswagen Financial Services secure their expansion trail with a new organisational set-up

Posted on 02. Nov, 2016 by in Volkswagen Canada

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• New and some-more fit structures
• Strengthening Braunschweig as financial centre

Volkswagen Financial Services AG has instituted a corporate restructuring. The Supervisory Board has authorized a doing today. The devise is to gold a credit and deposition business within a European Economic Area (EEA) in Volkswagen Bank GmbH, that will afterwards turn a unconditionally owned auxiliary of Volkswagen AG. All other activities will sojourn with Volkswagen Financial Services AG, that is also a approach auxiliary of Volkswagen AG. Through a new company, Volkswagen Financial Services Digital Solutions GmbH, comparison and innovative services will be grown and supposing to a primogenitor companies Volkswagen Bank GmbH and Volkswagen Financial Services AG. The new structure is still theme to capitulation by a Supervisory Board of Volkswagen AG.

“With this vital realignment, we make a structures of Volkswagen Financial Services some-more efficient, strengthen Braunschweig as a financial centre, and start a expansion offensive,” explains Lars Henner Santelmann, CEO of Volkswagen Financial Services AG. He adds: “Our aim of 30 million contracts by a year 2025 is rarely ambitious. With a new structure, we are securing a expansion trail of a strategy.”

As a outcome of a restructuring, a European credit and deposition business will be distant from a other financial use activities. As a consequence, a organisation of a European Central Bank (ECB) will be singular to Volkswagen Bank GmbH and a credit and deposition business in a EEA.

“With this vital repositioning, we are providing larger clarity and clarity for a supervisory authorities. We raise coherence and precedence efficiencies to serve strengthen a successful business model,” says Dr. Michael Reinhart, Management Board member of Volkswagen Financial Services AG with shortcoming for Risk Management and Credit Analysis. He continues: “In addition, we are also formulating financial range for capital-efficient expansion in strategically critical business fields.” The existent common labor agreements will not be changed. The companies will be headquartered in Braunschweig. The plan is approaching to be finished in 2017.

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