Frankfurt-based Helaba is expanding its structured products business for private investors, following the integration of the WestLB certificates platform.
"With the acquisition of WestLB's existing business, Helaba is now one of the largest certificate issuers in Germany and is a leading issuer in the Savings Banks Finance Group," said Klaus-Dieter Gröb (pictured), a member of the board of managing directors at Helaba responsible for the savings bank network.
In recent years, Helaba has been an active provider in the investment solutions business with certificates and bonds, with an increasingly strong market position. The bank said that customers have around €2bn invested in the bank's structured products as of the beginning of 2012.
According to Helaba, future issuance strategy will be geared consistently towards the needs of banks and their customers.
The bank said that the existing infrastructure of its certificates-internet portal will be expanded with the takeover of WestLB's processes and systems.
Helaba also said that some of former WestLB certificates team will be integrated in the bank's structured products team.
The liability transfer of WestLB is expected on 17 September with the registration of a company. The aftercare of people affected by the transfer, the prices in the secondary market and the business service for investors and savings banks are in the meantime being taken over by Portigon.