Avaloq is further consolidating its presence in Germany: Frankfurter Bankgesellschaft has decided to introduce the Avaloq Banking System. The contract was signed on 7 January 2011 in Zurich. The private bank, with its head office in Zurich and a subsidiary in Frankfurt, is a wholly owned subsidiary of Helaba and thus part of the German Savings Banks Finance Group, one of the world's largest finance groups. The bank serves private banking and wealth management clients, mainly in cooperation with the savings banks in Germany. The bank decided in favor of the Avaloq Banking System after having sought a multientity completing banking solution that it could adopt both at its head office in Zurich and at its subsidiary in Frankfurt. The system is scheduled to go live at the end of the year.