Cortal Consors
Management
Olivier Le Grand Hugues Colmant
Management
Branch Manager: Kai Friedrich ( CEO) Richard Döppmann
The Cortal Consors S. A. is a direct bank headquartered in Paris, France, and daughter of the French BNP Paribas. The direct bank has a presence in Germany, France and Spain and employs around 1,500 people who serve more than 1 million customers.
History
The company was founded in 1994 by Karl Matthäus Schmidt in Nuremberg under the name Consors (Latin: Partnership ) established as a subsidiary of the Bank Schmidt. After conversion to a corporation Consors was from 1999 to 2002, listed on the stock exchange. In 2001, the Bank had 450,000 customers depots and expanded to Switzerland as well as France, Italy and Spain.
Problems of the parent company in 2002 is to be acquired by BNP Paribas. For the shares in free float compensation in the amount of 11.75 Euro was fixed by the general meeting. Consors merged in 2003 with the French own direct banking subsidiary Cortal. Since then, the company operates under the new name Cortal Consors. Numerous minority shareholders denied that the cash compensation in 2002 was appropriate and complained before the Regional Court of Nuremberg. In July 2009 came the judgment of the Higher Regional Court of Munich, followed by a subsequent improvement of 0.86 euros per share plus interest was paid since 2002. This means a subsequent compensation for the exclusion of minority shareholders in the amount of approximately 1.09 euros per share.
Company Profile
The business model extends in the retail sector to the " Trader", "investors" and "advice". Independent asset managers and business customers are served by the B2B business " Professional Partners ".
The available via Internet and telephone services range from current accounts and overnight deposits of all significant forms of securities trading to insurance and a platform for mortgage lending. Securities can be traded both OTC over the counter at home and abroad. With the trading software " Active Trader Pro", the company employs professional day traders.
Customers can also view analysis, market commentary and research reports over the Internet. The newsletter "Share inspector " provides a current risk- assessment for stocks. With the brand Cortal Consors Select the Direct Bank extended a few years ago their range of services to an individual investment advice.
The branch of Germany Cortal Consors SA is a member of Deposit Insurance Fund of the Federal Association of German Banks This provides a backup limit per customer from the current 45 million euros (30 % of the relevant liable capital ) before. It comes into play when the EU legally guaranteed security in the amount of € 100,000 has been exhausted. Customer deposits are thus protected by two independent security systems.