Frank Lamby to follow Johann Berger at the head of Hypo Real Estate Bank AG (DE)

Frank Lamby (47) has been nominated as a member of the managing board of Hypo Real Estate Bank AG effective 1 January 2005. It is planned that Frank Lamby will take over the position of managing board spokesman from Johann Berger (44) on 1 April 2005.

Frank Lamby has previously been responsible for new business at Hypo Real Estate Bank International. When he takes on his new functions, Frank Lamby will implement and concentrate on expanding the successful business model, focussing on sales in Germany. He will also retain his function as Chief Risk Officer (CRO) at Hypo Real Estate Holding AG, and will give up his position as executive director at Hypo Real Estate International at the end of the year.

Georg Funke, chairman of the managing board of Hypo Real Estate Holding AG: 'Johann Berger has been very much responsible for ensuring that the Hypo Real Estate Group has completed the process of restructuring business in Germany much sooner than originally planned. Now that new business has been resumed, Hypo Real Estate Bank AG will have to aggressively take advantage of growth and earnings opportunities in the German market. I am convinced that Frank Lamby and his team will successfully master this challenge.'

Source: Hypo Real Estate Group

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