Management standards

For banks, the supervisory authorities generally prescribe very precise quality requirements with regard to organization and management; cf. for Germany § 24 ff. KWG. These requirements are monitored by the supervisory authority. – See dismissal order, competence, professional, expertise, sanction committee, forced closure. – Cf. 2007 Annual Report of BaFin, p. 143 (prohibition order due to organizational deficiencies).
Manager relocation (transfer of managers): Unless otherwise defined, this refers to the relocation of top earners in the financial sector from a country with unfavorable circumstances – such as, above all, poor infrastructure, political uncertainty, anti-bank public opinion, high taxes – to another country, from where business is then conducted. – In December 2009, for example, the British government imposed a fifty percent tax on 2009 bonuses above a certain level. As a result, London-based institutions – the U.S. bank Goldman Sachs alone employed around 5,000 people in the British capital at the beginning of 2010 – initially relocated their top management to Switzerland. The relocation of other higher-income earners was being prepared. Allegedly, the canton of Geneva in particular had purposefully tried to make such relocations to the cosmopolitan city on the Rhône tempting for the bankers. – See recruitment money.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/