OVB Spain to become a stock corporation
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- Transformation of OVB Allfinanz España S.L. into a stock corporation
- Change in legal form reflects extremely positive business performance
Cologne, 17 December 2014 – OVB Allfinanz España S.L., an operating Group company of the European financial service provider OVB Holding AG, will be trading as OVB Allfinanz España S.A. in future. Its transformation into a stock corporation will take legal effect from the time of its entry in the commercial register at the start of the new year 2015.
“The new legal form reflects the success story of OVB Spain, which has been ongoing for more than a decade, and is a long-planned step towards a corporate structure in line with the company’s size and market positioning,” said Michael Rentmeister, CEO of the parent company OVB Holding AG. “This step also means more flexibility for the further growth and future development of the company.”
OVB Allfinanz España S.L. was founded in 2002 and has been expanding successfully and systematically since then. OVB is virtually unrivalled in Spain with its business model of comprehensive financial consulting. The company’s operating performance has been extremely positive in recent years. OVB expects to almost double its sales in Spain in the 2014 financial year. “Even in a sometimes challenging market environment, we have proved that OVB services offer our Spanish customers genuine value added. Now we have chosen a legal form for our Spanish operating subsidiary that matches our aspiration of becoming the market leader in Spain,” continued Rentmeister.
As before, the three-person Advisory Board of OVB Allfinanz España S.A. will consist of Michael Rentmeister, Mario Freis, member of the Executive Board of OVB Holding AG, and Harald Ortner, who is also still in charge of operating business.
About the OVB Group
The OVB Group, with its holding company headquartered in Cologne, is one of Europe’s leading financial service providers. Since being founded in 1970, OVB’s business activities have focused on comprehensive consulting for private households. OVB works with more than 100 high-performance providers and uses competitive products to serve its clients’ individual needs for retirement provision, asset and proberty protection as well a asset generation and wealth management. OVB currently operates in a total of 14 countries. Around 5,200 full-time financial consultants currently advise approximately 3.2 million clients. In 2013, OVB Holding AG and its subsidiaries generated total sales commission of €204.8 million and EBIT of €10.2 million. OVB Holding AG has been listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006286560) since July 2006.