The financial sector plays a key role in the economy and in society. Its efficiency has a major influence on the economy’s success and impacts on all other economic sectors, whether directly or indirectly.
With EUR 13 billion, the financial sector accounts for 3.9 percent of the entire economic output of Baden Wuerttemberg. Throughout the federal state, almost 165,000 people are employed in this industry, thereof 55,000 in the region of Stuttgart.
The financial market of Baden-Wuerttemberg is well positioned. The federal state has efficient banking institutions (inter alia the LBBW as biggest state owned savings bank [Landesbank]) and insurance companies (inter alia Allianz Lebensversicherungs AG, Wüstenrot & Württembergische AG), Germany's leading exchange for private investors, strong public institutions promoting economic development, Germany-wide leading building societies and further competent financial service providers. Due to its clear focus on corporate and private customers, the financial market is expected to further increase its attractiveness in coming years.
In 2007, supported by Baden-Wuerttemberg's Ministry of Finance and Economy, the association Baden-Württembergische Wertpapierbörse e.V. established the credit economy foundation from Hohenheim University - "Stuttgart Financial". This foundation aims to strengthen Baden-Wuerttemberg's competitiveness and to highlight the state's strengths. For this purpose, Stuttgart Financial operates as exchange platform for topics relevant to the financial industry and provides a wide range of services and activities in order to promote the exchange and sustainable networking of the "Financial Community".