Eurohypo: Thomas Köntgen to take over from Frank Pörschke as Chairman (DE)

The Eurohypo Supervisory Board has appointed Thomas Köntgen, 44, as the new Chairman of the Board of Managing Directors at Eurohypo with effect from September 1, 2011. He is taking over from Dr Frank Pörschke, who is leaving the bank by mutual agreement.

Dr Pörschke became a member of the Eurohypo Board of Managing Directors in 2007 and was appointed Chairman in October 2008.

"Frank Pörschke has successfully driven the restructuring of Eurohypo in an extremely difficult market environment. Having completed this phase, it is understandable that he now wants to seek new professional challenges. I would like to thank Dr Pörschke for his dedication and commitment. I wish him every success in his future undertakings," comments Jochen Klösges, Chairman of the Eurohypo Supervisory Board.

The European Commission has stipulated that Eurohypo must be sold by end-2014.

Against the backdrop of this constraint and the new regulatory framework, the continued streamlining of Eurohypo's activities into 2012 and beyond is required. The key priorities remain unchanged: stabilizing commercial real estate finance and gradually reducing the public finance business.

"Thomas Köntgen has a proven track record in credit risk management and the real estate markets. I look forward to continuing our work together as he takes on this new role," affirms Jochen Klösges.

Thomas Köntgen has been a member of the Eurohypo Board of Managing Directors since 2008, with responsibility for commercial real estate financing in Germany. The business studies graduate has over 15 years of experience in real estate finance, both on the sales side and in risk management. He has worked for Eurohypo since the bank was founded in 2002.

Source: Eurohypo

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