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Deloitte launches The Banking Union Centre in Frankfurt
The Banking Union initiative is Europe’s most ambitious integration project since the creation of the euro. It represents a fundamental redesign of the supervision of the financial sector, as well as being an essential complement to monetary union. Ultimately, this project will have significant consequences for European integration and the structure of the banking sector.
In this context, the new prudential supervision body, the Single Supervisory Mechanism (SSM), led by the European Central Bank (ECB) and based in Frankfurt, will become one of the main players shaping the transformation of the Financial Services Industry in Europe. These changes will have a major impact on Eurozone banks and beyond, affecting business models and strategies.
For this reason, Deloitte, the leading global professional services firm, has launched the Banking Union Centre in Frankfurt (BUCF), a powerful pan European resource to meet clients´ needs and requirements. Through the lens of the Banking Union, the BUCF will be responsible for:
- Proactively identifying challenges facing banks in scope for the SSM and providing direct support to their C-suite.
- Acting as a catalyst for pooling Deloitte’s capabilities across the SSM region. The Centre will provide a single point of contact for the cross-border support that our internationally active clients increasingly require.
- Channeling and sharing insights from Deloitte professionals into key issues facing senior-level decision makers within banks.
- Supporting and extending Deloitte’s existing strong relationships with the ECB/SSM and national supervisors.
Deloitte has established this permanent presence by bringing together a multidisciplinary team of senior and experienced professionals from its Financial Services practices across Europe. The Centre is led by Hans-Jürgen Walter, Financial Services Industry Leader for Germany, and includes professionals from Austria, Belgium, France, Germany, Italy, Luxembourg, Netherlands, Spain and the UK. Additionally, the Centre will be supported by all the Eurozone Deloitte Local Financial Services Industry practices and by Helmut Bauer, Deloitte’s Special Advisor on European Union Regulation and formerly Chief Executive Director and Head of Banking Supervision at the Federal Financial Services Supervisory Authority in Germany.
Aligned with Deloitte Malta FSI team
Deloitte Malta FSI team has direct access to both BUCF and ECRS and has already interacted with the responsible people behind these initiatives whilst conducting engagements during the Asset Quality Review and Stress Test of the systemic banks of Malta. We are committed to continue supporting all stakeholders throughout the transformation of the EU banking sector.
The team, led by Dimitrios Goranitis a Director at Deloitte Malta, offers, regulatory, risk management, transactional and project management advice to banking institutions and banking supervisors and comes with significant experience in working with central EU regulatory bodies including ECB, SSM, the European Stability Fund and the European Stability Mechanism.
Connected with the Deloitte EMEA Centre For Regulatory Strategy
The BUCF will collaborate closely with the EMEA Centre for Regulatory Strategy (ECRS). Based in London and with a satellite presence in Frankfurt, the ECRS leverages regulatory specialists from Deloitte practices across the region to monitor regulatory developments and provide an expert, objective perspective on opportunities and challenges for financial institutions. It is led by Clifford Smout and David Strachan, former senior supervisors in the UK.
About Deloitte EMEA Region
Deloitte’s Europe, Middle East and Africa practice (EMEA) brings together 88 countries and more than 70,000 practitioners with an outstanding level of integration that offer borderless professional services across the region.
About Deloitte EMEA Financial Services Industry
Deloitte’s Financial Services practice in Europe, Middle East and Africa (EMEA FSI) is based on 28 actively engaged jurisdictions, encompassing more than 1.000 partners and over 10,000 professionals with vast experience and knowledge across the Financial Services Industry.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/mt/about for a more detailed description of DTTL and its member firms.
Deloitte Malta refers to a civil partnership, constituted between limited liability companies, and its affiliated operating entities, Deloitte Services Limited, Deloitte Legal, Deloitte Technology Solutions Limited and Deloitte Audit Limited. The latter is authorised to provide audit services in Malta in terms of the Accountancy Profession Act. A list of the corporate partners, as well as the principals authorised to sign reports on behalf of the firm, is available here. Cassar Torregiani & Associates is a firm of advocates warranted to practise law in Malta and is exclusively authorised to provide legal services, in Malta, under the Deloitte brand.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte’s more than 200,000 professionals are committed to becoming the standard of excellence.