DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, is acting as central bank, corporate bank and parent holding company of the DZ BANK Group. Their objective is to offer relevant products, exemplary services and efficient processes - and thereby develop themselves into a leading financial services group. As a central bank they serve as the subsidiary partner of about 850 local cooperative banks. They conceive, develop and provide products and services aimed at every relevant customer segment for the primary banks to market, and provide them with liquidity balancing and reliable refinancing management services. As an internationally oriented corporate bank they serve SME customers directly and provide them with the full range of Corporate Finance products to fund both operations and investments. In Investment Banking, they are specialised in Fixed Income and private-customer-focused securities services. They put the exceptional placing power of the integrated cooperative financial services sector to work at the interface between the capital markets and the custody account institutions. Their International division provides a worldwide hub for the primary banks and their customers. As a holding they coordinate the efforts of the cooperative sector's comprehensive range of specialised services in order to achieve synergies and grow market potentials for the benefit of their local cooperative banks. Among others Bausparkasse Schwäbisch Hall, R+V Versicherung, Union Investment, DZ HYP and VR SmartFinanz belong to the DZ BANK Group.