Management Change
Hamburg/Kiel, March 19, 2007 - Frank-Rainer Roth (47) is to become “Generalbevollmächtigter” of HSH Nordbank AG. As such, he is expected to take over the duties of Chief Operating Officer during the second half of the year. Last Friday, the Supervisory Board in addition issued a declaration stating its intention to appoint Mr. Roth to the Management Board after an expected job-familiarization period of twelve months.
“We are very pleased to have found a person with his wealth of experience to fill this position in our Bank,” said Hans Berger, CEO of HSH Nordbank AG.
Roth is Chief Information Officer of the investment bank Dresdner Kleinwort Ltd. in London since 2006. There he is responsible inter alia for the corporate management and process optimization work involved, for example, in integrating risk platforms and in implementing the MiFID guidelines of the EU. From 2001 until 2006 Roth was employed by HypoVereinsbank AG in Munich, his last position having been Chief Operating Officer/ division manager. He provided the investment business of HypoVereinsbank with a key boost by setting up a global top management team, carrying out various IT projects at head office and preparing the merger with UniCredito for his division. At the same time he was Chairman of the Supervisory Board of Financial Market Service Bank. The father of three sons worked for Daimler-Benz AG and Robert-Bosch GmbH in a number of different management positions between 1986 and 2001.
HSH Nordbank AG is a strong regional bank in Northern Europe with total assets of € 190 billion. Some 4,400 of the bank’s employees provide corporate and high networth clients around the globe with premium bank products and services. In its core region of Hamburg and Schleswig-Holstein, it is the market leader in the corporate customer segment. HSH Nordbank is an acknowledged partner of the capital markets and international sector specialist. Its main focus is on transportation and real estate. In fact, HSH Nordbank is the world’s largest provider of ship finance and covers the entire value chain in the transportation segment. In the area of real estate, HSH Nordbank is one of the strongest banks in Germany, acting as a provider of services relating to all aspects of real estate. For more information please visit our website at www.hsh-nordbank.com.
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
This press information can contain forward-looking statements. These statements are based on our beliefs and assumptions, on information currently available to us which we consider reliable. Forward-looking statements include all statements which are not historical facts, including information concerning future growth prospects and future economic developments.
Such forward-looking statements are based on assumptions relating to future events and are subject to uncertainties, risks and other factors, a large number we cannot influence. Thus actual events can differ considerably from the forward-looking statements made. We make no warranty for the correctness or completeness of these statements or the actual occurrence of the statements made. Furthermore, we assume no obligation for updating the forward-looking statements after this information has been published.