Michael Höllerer: New chairman of the banks – opportunities and challenges!

Michael Höllerer: New chairman of the banks – opportunities and challenges!

On June 16, 2025, Michael Höllerer was re-elected as federal chairman of the federal banking and insurance division in the Austrian Economic Chamber (WKÖ). In his role, he represents around 460 banks and over 110 insurance companies as well as 16 pension and provident funds in Austria. Höllerer sees his election as a clear mandate to actively shape the challenges and opportunities of the industry. He emphasizes the central role of the financial sector for stability, security and sustainable growth in Austria.

In his new term of office, Höllerer has set several priorities to ensure the industry's competitiveness. This includes reducing bureaucracy and regulating with a sense of proportion. In particular, he calls for the abolition of gold plating and the avoidance of new over-regulation in order to improve the framework conditions for banks and insurers. Another goal is to facilitate access to financing, especially for housing, property and retirement provision.

Regulatory challenges

The current financial challenges are compounded by an increase in supervisory activity. Simple regulatory measures are no longer sufficient; Financial institutions are under increasing pressure, particularly with regard to sustainability reporting, which is to be implemented by 2025. Loud KPMG Supervisory authorities will be less tolerant of institutions that do not meet these requirements.

Against the background of regulation, the validation of resolution plans and preparation for a possible market exit are also necessary. Financial institutions are required to adapt their governance and risk management structures accordingly in order to meet future challenges.

Digital transformation and climate agenda

Höllerer sees the member companies of the federal division as strategic partners for growth and prosperity in the region. He emphasizes that the focus must be on digitalization and the perception of climate transformation as economic opportunities. Political pressure to simplify ESG reporting requirements is seen as important as pressure increases on financial institutions to take appropriate measures to reduce greenwashing.

The EU recently adopted new directives that will bring about profound changes in the area of ​​financial data management. From 2025, financial institutions will have to fully implement the Markets in Crypto Assets Regulation (MiCAR) and the Digital Operational Resilience Act (DORA), although the preparations are complex and lengthy.

Höllerer also warns that a withdrawal of liquidity can weaken lending, which becomes particularly problematic during an investment phase. He advocates for a regulatory breather and bureaucratic relief in order to create the necessary leeway.

In summary, it is clear that the economic and regulatory framework in 2025 will present the industry with significant challenges. Nevertheless, Höllerer sees an opportunity to provide positive impetus to continue to promote stability and growth in Austria through targeted measures and cooperation in the financial sector.