RSU: from Landesbanken project to rating system provider
RSU: from Landesbanken project to rating system provider


RSU develops and operates a broad range of systems for the assessment of credit risks. Established in 2003, RSU originated from a joint project of eight Landesbanken and DekaBank.



RSU’s history started in 2001, when German Landesbanken and the DekaBank launched a joint project for the development of internal rating systems.

The aim was to satisfy the regulatory requirements for what is referred to as the Internal Ratings-based Approach (IRBA). During the core phase of the project in 2002 and 2003, interdisciplinary project teams developed the necessary methodology for rating ten different exposure classes. Once a rating system was ready for use, it was integrated into the LB-Rating application. The joint effort allowed to draw on the experience and the portfolios of all RSU partners.

In December 2003 the project lead to the foundation of RSU. RSU’s shareholders are the Landesbanken that participated in the project and/or their legal successors.

Having received supervisory clearance for its rating systems, RSU has made them available to clients outside the group of shareholding banks since 2007. Currently, RSU’s clients include institutions from all three sectors of the German banking system, a number of financial service providers, international institutions, and institutional investors.

By now, RSU also provides other solutions for forecasting and assessing credit risks.


Our executive team combines broad expertise and many years of experience in credit risk management.


Dana Wengrzik holds a Diploma in mathematics. She spent the first seven years of her career at McKinsey & Company in Munich. From 2003 to 2012 she worked in risk management at HSH Nordbank, most recently as head of the group risk control department and deputy head of Group Risk Management. In this role she was responsible for crucial components of the risk control function and oversaw the continuous development of these components. She was also in charge of communicating risk metrics, analyses, measures identified and their implementation to both internal and external stakeholders (e.g. executive board, supervisory authorities). Ms. Wengrzik has been RSU's Managing Director since 2012.


After a banking apprenticeship and the completion of a degree in statistics at LMU in Munich, Robert Buchberger joined the consulting firm Capgemini. From 2002 to 2014 he then worked for BayernLB in various risk management positions. Initially tasked with rating-related matters he later joined the strategic risk management branch, where he became department head in 2008 and in particular took over responsibility for risk bearing capacity methods and calculation. From 2014 to 2020 Robert Buchberger was Head of Credit Risk at BMW Bank and in charge of the development and validation of rating systems and the design of credit decision processes.
Since July 2020 he has headed RSU's Methodology department.


After studying business administration Johannes Nützel started his professional career in management accounting before joining the consulting firm Basycon. In 2002, he was tasked as an external consultant with managing and monitoring the Landesbanken project for the development of internal rating systems. He joined RSU when the company was established in 2004 to set up the finance unit before taking charge of the IT department as well in 2007. In 2019 the department was joined by the new Market Data Application team.
Mr. Nützel has been in charge of RSU's IT & Finance department since 2007.


Dr. Reichsthaler studied economics at the University of Regensburg and then joined the university's department of econometrics as a research associate. After completing his doctorate, he worked for BulwienGesa AG from 2001 to 2004, where his responsibilities included designing forecasting systems for German and international real estate locations and performing analytical work on subjects combining economics and real estate economics.
He joined RSU as a project manager in 2004 and was initially tasked with reviewing and further developing several rating systems.
Dr. Reichsthaler has headed RSU's Marketing & Sales department since 2012.


Iris Mugele studied law at Friedrich-Alexander Universität Erlangen-Nürnberg, the university of Würzburg, and Temple University, Philadelphia. After starting her professional career she obtained a Master of Business Administration degree from the UK Open University Business School.
Iris Mugele spent the first two years of her career as an attorney with an international business law firm in Frankfurt, specialising in company law and M&A. After that she set up the legal department of a medium-sized IT company in Munich, which she headed for four years. She then moved on to an international IT group as a company lawyer before joining RSU in 2010 as a legal officer.
Since 2018, Iris Mugele has been the head of RSU’s Legal, HR and Organisation department.


Since RSU’s foundation, the comprehensive knowledge, expertise and experience of the German Landesbanken and DekaBank have substantially contributed to the ongoing testing, validation and improvement of the RSU-products. Its partners are:

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