Johann Berger leaves the Group following the reorganization of the corporate and real estate finance business - Dr. Stefan Schmittmann to be appointed a full member of HypoVereinsbank's Management Board
As previously announced in early July, UniCredit Group will transfer its group-wide commercial real estate finance business to the Corporates Division as a global product factory. With this move, the Management Committee and Board of Directors of UniCredit will follow Johann Berger's recommendation that the establishment of a stand-alone division would not seem advisable given the clearly focused business model for commercial real estate finance.
Johann Berger (46), member of UniCredit's Management Committee responsible for the Commercial Real Estate Finance and member of the HypoVereinsbank's Management Board, will leave the Group at his own request, effective August 31. "I regard the integration of commercial real estate finance and the corporate customer business as the right move, since it will set the stage for substantial synergies in both distribution and
market follow-up functions" said Johann Berger. "I was glad to support the new group as it went through its initial important phase, and had the opportunity to get to know and appreciate the colleagues at UniCredit. With the reorganization of the Corporates and Real Estate Division, I consider my personal integration task as completed. For me personally, the long-term scope of strategic, formative action is limited in the new structure that I recommended to the group. I have therefore decided to leave the bank."
Dr. Wolfgang Sprissler, Management Board Spokesman of HypoVereinsbank, said: "We much regret Johann Berger's decision, but fully respect it. HVB will systematically implement the new business model designed by Mr. Berger. We will position ourselves in the market as a real estate boutique focusing on complex and innovative financing and advisory services for special target customers and markets and thus significantly
optimize the profitability and risk profile of our commercial real estate finance business."
Subject to the approval of the Supervisory Board, and effective in September, Dr. Stefan Schmittmann (49) will be appointed a full member of the Management Board of HypoVereinsbank. He will be responsible for the corporate customer business, including commercial real estate finance.
Alessandro Profumo, Chairman of UniCredit's Management Committee and HypoVereinsbank's Supervisory Board added: "We have great respect for Johann Berger's decision and professionalism. He is an esteemed colleague and friend. He has made decisive contributions to the progress made in the integration of HypoVereinsbank into the UniCredit Group. Together with Stefan Schmittmann, he was instrumental in successfully completing the reorganization of the corporate customer business in Germany. Dr. Schmittmann is an acknow-ledged expert on corporate customers, who will play a key role in expanding our Group's position in the German market."
Dr. Stefan Schmittmann joined Bayerische Vereinsbank AG in 1986 and has held leadership positions in the corporate customer business and in risk management since then. In 2004, he took over the position of Management Board Spokesman of Vereins- und Westbank and played a key formative role in VuW's integration into HypoVereinsbank. After subsequently holding the position of Divisional Board member for Corporate
Customers and Professionals, Dr. Schmittmann has been a deputy member of HypoVereinsbank's Management Board since 2006.
Source: HypoVereinsbank
