Hamburg/Kiel, May 20, 2008 - Hartmut Strauss (59), member of the HSH Nordbank Management Board in charge of Internal Auditing and Risk Management, will retire from the Board for personal reasons effective June 30, 2008. The Supervisory Board accepted his resignation at its meeting on May 19.
The Management Board joins the Supervisory Board in thanking Mr Strauss for his outstanding and dedicated work which has, among other things, resulted in HSH Nordbank being the first German landesbank and one of the first banks in Europe to obtain clearance for the application of its Advanced Approach in risk management from BaFin, the German regulator, in October 2007. This clearance by BaFin confirmed that HSH Nordbank’s risk management systems are particularly compliant with the strict Basle II capital adequacy requirements which came into force across the EU in January 2008.
Hans Berger, chairman of the HSH Nordbank Management Board, said: “Over the past 31 years Hartmut Strauss made lasting contributions to HSH Nordbank and its predecessor institution, Hamburgische Landesbank. We owe him a debt of gratitude and have accepted his resignation with regret. Speaking also on behalf of our bank’s employees, we wish him all the very best for his future.”
Born in Barmstedt on March 4, 1949, Hartmut Strauss was appointed Management Board member in charge of Internal Auditing and Risk Management as well as Finances/ Controlling/ Taxes (until November 2007) in mid 2003 when Hamburgische Landesbank and Landesbank Kiel merged to form HSH Nordbank. Since April 2001 he had served on the Managing Board of Hamburgische Landesbank which he had joined as a loan auditor on July 1, 1977.
HSH Nordbank AG is a strong regional bank in Northern Europe with total assets of € 205 billion. Some 4,800 of the bank’s employees provide corporate and high net-worth 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.
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