Strategy
Unicredito Division Reveals German Wealth Management Ambitions

The HVB division of bankers Unicredito is planning to expand its wealth management business through organic growth, HVB management board member Andreas Woelfer has said in an interview with Financial Times Deutschland. He expects the segment's assets under management to rise by €2 billion ($2.7 billion) in 2007 from 2006, he said. HVB wants to draw clients from Germany's Sparkassen - savings banks - and cooperative Raiffeisen banks in particular, according to Mr Woelfer. “In three years we want to be Germany's best wealth management bank, both in terms of products and service quality”.