The Saxonia banking syndicate (SFG) is as a body of the public right carrier it attached savings banks and that Saxonia LB.

Structure and legal bases

The Saxonia banking syndicate was established due to "§"§ the 49ff of the law over the public credit system in the Free State Saxonia from 13 December 2002 http://www.sachsenfinanzgruppe.de/Downloads/gesetzKreditwesen.pdf ("„Saxonian savings bank law "“) as a legally responsible body of the public right. It is of the savings banks and that transferred to it Saxonia LB. It operates even no banking transactions and is thereby no Kreditinstitut after KWG. Their activity already took up it on 1 September 2003 as a right successor of the Saxonia financial federation (SFV), which was dissolved at the same time.

To the Saxonia banking syndicate Saxonia LB the east Saxonian savings bank Dresden, the savings banks Leipzig, Vogtland, Freiberg, Erzgebirge, middle ore mountains, Aue Schwarzenberg and Mittweida, as well as the savings banks insurance Saxonia group belongs apart from a participation in that.

Shareholder

The Saxonia banking syndicate has a capital stock after "§ 53 of the Saxonian savings bank law, in which Saxonian districts and circle-free cities can take part, by them formed with purpose federation savings banks and the Free State Saxonia. The participation third ("„further persons of the public and the private right "“) is possible up to altogether 49 per cent of the capital stock. Shareholders are to time (2006):

Organs

Organs of the Saxonia banking syndicate after the savings bank law are the shareholder meeting and the executive committee. Additionally a co-ordination committee was educated.

Shareholder meeting

The shareholder meeting is the agency of the shareholders. Each shareholder is represented by at least one member. The being correct portions of the members are measured after the height of the respective participation in the capital stock. The chairman of the shareholder meeting and its deputy are selected for maximally five years. Present chairmen is the Minister of Finance of the Free State Saxonia refuge Metz.

Executive committee

The executive committee of the Saxonia banking syndicate consists of at least two members, that are selected by the shareholder meeting for at the most five years. It represents the banking syndicate outward and leads their business. At present (2006) the executive committee consists of four members:

• Joachim Hoof, chairman of the board of the east Saxonian savings bank Dresden
• Herbert sweet, chairman of the board that Saxonia LB
• Claus Friedrich getting man, federation managing director of the East German of association of savings banks
• Peter Krakow, Vorstandsvorsitzender of the city and district savings bank Leipzig

Co-ordination committee

The co-ordination committee has primarily a consulting function. The chairmen of the board of all institutes for group belong to it. Its members advise the executive committee of the Saxonia banking syndicate and promote so trusting co-operation between the Saxonia banking syndicate and the institutes for group.

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Internet appearance of the Saxonia banking syndicate

Note

Articles in category "Saxonia banking syndicate"

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Related Websites

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• Lords 10, Turn 87
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• Lords 10, Turn 89
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