BVV, one of Germany’s largest pension institutions, has completed its transformation into a full-service provider for occupational pension schemes.
As previously reported, the Berlin-based organisation has founded a new company, BVV Pension Management GmbH, to better meet existing clients’ needs and to be able to capture new business.
BVV’s previous corporate structure did not allow it to satisfy specific customer inquiries, it said, and many corporates wanted the entirety of their pension provision handled by a single unit.
The new company is a 100% subsidiary of the BVV Pensionskasse. Helmut Aden, Frank Egermann and Marco Herrmann, who are BVV Versicherungsverein directors, are now also directors of BVV Pension Management.
The supervisory board of the company is also identical to the members of the BVV Versicherungsverein supevisory board.
In its announcement, BVV also mentioned betavo, which has been advising corporate customers on complex issues since 2021 and is now a wholly owned subsidiary of BVV Pension Management.
BVV has €33.6bn in assets under management as at the end of 2022, according to IPE’s latest Top 1000 European Pension Funds guide. The only larger German pensions institution is BVK, in Bavaria, with €106.8bn.