Menu
  • Locations
  • Services
  • Experts
  • Hot Topics
  • News & Knowledge
  • Career
  • About us
  • Search
  • Press
  • Events & Webinars
  • Contact
  • Language
  • Berlin
  • Cologne
  • Dusseldorf
  • Erlangen
  • Frankfurt
  • Hamburg
  • Hannover
  • Kolbermoor
  • Munich
  • Nuremberg
  • Regensburg
  • Rosenheim
  • Stuttgart
  • Tax
  • Legal
  • Advisory
  • Industries
  • Digital Solutions
  • DAC 6
  • ESG
  • FISG
  • Pillar Two
  • Tax Internal Control Framework
  • Brochures
  • News
  • Newsletter overview
  • Newsletter subscription
  • Overview
  • Culture
  • How we work
  • You&WTS
  • TALENTnetwork
  • Apply now
  • What Makes Us Stand Out
  • Our Clients
  • Our Employees
  • Awards
  • Corporate Responsibility
  • Our Management Team
  • Our History
  • Our locations
  • by Topic
  • Digital
  • Environment
  • Social commitment
  • Employee responsibility
  • Diversity
  • Press
  • Events & Webinars
  • Contact
English
German
  • English
  • German
WTS worldwide
  • WTS Global
  • Albania
  • Angola
  • Argentina
  • Armenia
  • Australia
  • Austria
  • Bangladesh
  • Belarus
  • Belgium
  • Benin
  • Bolivia
  • Bosnia & Herzegovina
  • Brazil
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Chile
  • China
  • Colombia
  • Costa Rica
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Estonia
  • Finland
  • France
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Guatemala
  • Guinea
  • Honduras
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iran
  • Iraq
  • Ireland
  • Israel
  • Italy
  • Ivory Coast
  • Japan
  • Kazakhstan
  • Kenya
  • Korea
  • Kyrgyzstan
  • Laos
  • Latvia
  • Lithuania
  • Luxembourg
  • Macao
  • Macedonia
  • Madagascar
  • Malaysia
  • Mali
  • Malta
  • Mauritius
  • Mexico
  • Moldova
  • Mongolia
  • Montenegro
  • Morocco
  • Mozambique
  • Myanmar
  • Nepal
  • Netherlands
  • New Zealand
  • Niger
  • Nigeria
  • Norway
  • Pakistan
  • Panama
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Puerto Rico
  • Romania
  • Russia
  • Rwanda
  • Saudi Arabia
  • Senegal
  • Serbia
  • Singapore
  • Slovakia
  • Slovenia
  • South Africa
  • Spain
  • Sri Lanka
  • Sweden
  • Switzerland
  • Taiwan
  • Tanzania
  • Thailand
  • Togo
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Uganda
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Uruguay
  • USA
  • Uzbekistan
  • Venezuela
  • Vietnam
  • Zambia
  • Services
    Services

    Learn more about our comprehensive services in the area of tax as well as relevant legal advice and financial advisory.

    Read more
    Tax Legal Advisory Industries Digital Solutions
  • Experts
    Experts

    Our employee structure combines the know-how of industry, consulting, financial management and IT in a very special way. Learn more about our experts.

    Read more
  • Hot Topics
    Hot Topics

    Overview of the current "hot topics" in the tax industry and how we can support with individual questions

    Read more
    DAC 6 ESG FISG Pillar Two Tax Internal Control Framework
  • News & Knowledge
    News & Knowledge

    Here you will find the latest news and topic specials on all aspects of taxation and financial advisory.

    Read more
    Brochures News Newsletter overview Newsletter subscription
  • Career
    Career

    Here you will find an overview of our development and qualification offers as well as employee offers and open positions. We look forward to getting to know you.

    Read more
    Overview Culture How we work You&WTS TALENTnetwork
    Apply now
  • About us
    About us

    Here you will find general information about the structure, special characteristics and history of WTS.

    Read more
    What Makes Us Stand Out Our Clients Our Employees Awards Corporate Responsibility
    Our Management Team Our History Our locations
  • Search
09.01.2019

WTS sees turnover rise to a record high and welcomes former Minister of State, Georg Fahrenschon, to its management team

Munich, Germany, 9 January 2019 – WTS, the international tax consulting firm, increased its turnover in the financial year 2017/2018 to a total of EUR 132 million. This is equivalent to a growth of almost 23 per cent compared to the same period of the previous year. Georg Fahrenschon, former Bavarian Finance Minister, has been appointed as a Director at WTS.

Over the past financial year 2017/2018, WTS and the financial advisory specialist, FAS belonging to the WTS Group, initially reported a consolidated turnover. Both of these business areas grew significantly. WTS and FAS both reached growth rates in the double-figures.

The business partnering model, which WTS uses to fully or partially represent tax functions, cemented itself as one of the most important drivers of growth in tax consultancy. WTS and Allianz SE gained a further large DAX mandate in this consulting field. Furthermore, WTS made very successful progress with the implementation of internal tax control frameworks, high-end tax advisory, tax process consultancy and the business surrounding tax tool solutions.

“To date, 2017/2018 has been our most successful year by far. Overall, our investments yielded notable returns, for example, in our digital consultancy services and, in particular, in the corporate tax advisory sector,” explains Fritz Esterer, CEO of WTS. “The merger with FAS was also a step in the right direction. Through it, we have given our financial advisory business unit another significant boost.”

Integration of FAS leads to strengthened collaboration

the past financial year, the financial advisory specialist, FAS, was successfully integrated into the WTS Group. Overall, there are now more than 120 WTS advisors in this segment. Through the merger, WTS profited from collaborations which were both fruitful and had a very positive effect on corporate development. Increases in turnover were primarily brought about by the constant expansion of advisory services as part of IFRS 15 and 16, IPOs, carve-outs and due diligence projects.

Georg Fahrenschon brings a wealth of expertise to WTS

At the turn of the year, WTS continued to receive notable assistance from Georg Fahrenschon. The former Bavarian Finance Minister and President of the German Savings Banks Association will continue to advance business development, focussing on medium-sized industrial companies and family-owned companies, from the Munich office of WTS.

“With Georg Fahrenschon at our side, we have gained a very experienced and competent manager who is an outstanding addition to our management team,” added Fritz Esterer.

Above all, Fahrenschon will forge further strategic alliances with important market participants such as other consulting firms, private equity companies or venture capital companies. This also involves the expansion of existing European cooperations in the DACH region, France, Italy and Benelux countries.

Fahrenschon started his career in 1999 at arf Gesellschaft für Organisationsberatung before being employed at the Bayerische Landesbank [Bavarian State Bank] in 2000. In 2002, he shifted to politics and occupied various public offices until 2012. He was, amongst others, a member of the German Bundestag and the Bavarian Landtag [Bavarian State Parliament], the State Secretary for the Bavarian State Ministry of Finance and the Bavarian State Minister of Finance. Georg Fahrenschon was the President of the German Savings Banks Association (Deutscher Sparkassen und Giroverband) between 2012 and 2017.

Main Contact
Georg Fahrenschon
Partner
General Representative, Diplom-Volkswirt
Minister of State (retired)
Munich
+49 89 28646-1617
View Profile
Main Contact
Florian Kestler
Head of Communications
Munich
+49 89 28646-1565
View Profile
Articles you might be interested in

WTS has opened a new hub in Miami for the advisory and optimisation of tax processes

WTS opens a US Reporting Hub in Miami
read more

Andreas Riedl and Tyll Stechmann with a technical article in the International Transfer Pricing Journal

Valuation of Business Restructurings in Germany – Part I: Economic Life of Businesses
read more

Andreas Riedl and Tyll Stechmann with a technical article in the International Transfer Pricing Journal

Valuation of Business Restructurings in Germany – Part I: Economic Life of Businesses
read more

Contact us today

Do you have any questions about our services or WTS? Please let us know. Please fill in our short contact form. We will get in touch with you as soon as possible.

Contact
About us
  • What Makes Us Stand Out
  • Our Clients
  • Awards
  • Corporate Responsibility
  • Quality Process Risk Management
Services
  • Tax
  • Legal
  • Advisory
  • Industries
  • Digital Solutions
Career
  • Overview
  • Culture
  • How we work
  • You&WTS
  • Apply now
News & Knowledge
  • COVID-19 Crisis team
  • Base Erosion and Profit Shifting (BEPS)
  • Tax Internal Control Framework
Transfer Pricing
  • Newsletter subscription
  • Newsletter overview
About Us
  • Our CEO
  • Our Board
  • Culture and Leadership
© 2022 WTS Company Information Disclaimer Data Protection Statement