Dr Frank Pörschke, spokesman for the Management Board of the Commerz Grundbesitz Group, is to join Eurohypo as of September 1st, 2007. He will be in charge of Corporate Banking for Continental Europe, Latin America and the UK as well as Legal, taking over some of the duties of Board Chairman Bernd Knobloch, who due to his dual role on the Board of Directors of both Eurohypo and Commerzbank wants to share some of the responsibilities of the company's growing international business.
This division of tasks make particular sense in light of Eurohypo's booming real estate business, which has now reached an annual volume of between €35 and 40 billion. Knobloch will retain responsibility for the US and Asia business, real estate investment banking and corporate communications. Pörschke's extensive experience in the real estate and asset management business will be a great asset to Eurohypo, and together with Bernd Knobloch (CEO), Dirk Wilhelm Schuh, Joachim Plesser, Henning Rasche and Martin Zielke, he will devote his full energy to maintaining Eurohypo's leading market position.
Frank Pörschke studied law at the University of Hamburg and received his doctorate in law in 1991. He started his career path at management consultancy firm McKinsey & Company before becoming a project developer at ECE Projektmanagement International, where he headed up international project development until mid-2004. Since then he has been working for the Commerz Grundbesitz Group, one of Europe's largest real estate asset managers, which also belongs to the Commerzbank Group. Pörschke (42) is married with three children.
"Frank Pörschke knows the real estate business inside out," comments Bernd Knobloch. "His many years of international experience, ranging from developing large-scale commercial real estate to successfully managing one of the largest European real estate companies, will prove invaluable to Eurohypo and its global business ventures." Pörschke will initially assume his new duties in the function of executive officer. He will officially join the Eurohypo Board of Directors sometime next year.