| DEPFA moves treasury to Dublin |
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| Ahead of the planned sale of Dublin based public finance bank DEPFA Bank’s German subsidiary, Deutsche Pfandbriefbank, which is expected to happen in 2005, all treasury functions of the bank have been moved to Dublin. |
Despite the fact that DEPFA is headquartered in Dublin, a substantial part of the bank's treasury had been based in Frankfurt up until now, under J?rgen Karcher, who was head of treasury, and Wally H?fer-Neder, who was global head of capital markets. As both of these will now be staying with Deutsche Pfandbriefbank, and in the future DEPFA will only have one funding vehicle, the Ireland-based DEPFA Asset Covered Security Bank, all treasury functions (capital markets, money markets, balance sheet management and institutional sales) are now based in Dublin.
As such, Bo Heide-Ottosen has joined the bank from Nordic Investment Bank as head of treasury and member of the executive committee and Julia Hoggett, formerly of JP Morgan in London, has been appointd as the new global head of capital markets. |
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| Article appeared in the December 2004 issue.
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