At its meeting on 8 December 2014, the Supervisory Board of FMS Wertmanagement decided to make the following changes in the Executive Board of FMS Wertmanagement.

Effective 1 January 2015, Frank Hellwig, until now the General Manager of FMS Wertmanagement, will be nominated to the Executive Board of FMS Wertmanagement. He is responsible for Legal & Compliance, IT, Sourcing & Servicer Steering, Operations Management and Human Resources. 

Norbert Kickum, who has been an Executive Board member since 1 March 2012 and as Chief Real Estate Officer has been responsible for real estate financing, has left FMS Wertmanagement at his own request and by full mutual agreement, with effect from 30 November 2014. Since the portfolio was transferred from the HRE Group, the commercial real estate asset cluster has been reduced from an original amount of over EUR 27 billion (nominal value) to now less than EUR 10 billion. 

"We would like to thank Norbert Kickum for his work," said Jan Bettink, Chairman of the Supervisory Board of FMS Wertmanagement. "With his long-standing experience in the area of commercial real estate financing, he has pushed forward the desired portfolio unwinding at FMS Wertmanagement and successfully realized sales and restructurings of loan exposures.” 

Commercial Real Estate will now be headed by Ernst-Albrecht Brockhaus, a member of the Executive Board who is already in charge of Treasury, Capital Markets Funding and Derivatives & Market Advisory. 

Dr. Christian Bluhm, Spokesman of the Executive Board and Chief Risk Officer of FMS Wertmanagement, is responsible for Structured Products, Infrastructure & Asset Finance, Sovereign & Public Finance as well as Risk Controlling, Finance, Portfolio Steering and Audit. 

FMS Wertmanagement was established in July 2010 for the purpose of taking over and unwinding the HRE Group’s risk positions and non-strategic operations. Effective 1 October 2010, a portfolio with a nominal value of EUR 175.7 billion was transferred to it from HRE. FMS Wertmanagement was able to reduce the portfolio to EUR 108 billion as at 30 September 2014. The Federal Republic of Germany is the sole owner of FMS Wertmanagement via the Financial Market Stabilisation Fund (SoFFin). 

If you have any questions, please do not hesitate to contact Andreas Henry, Head of Communications, at +49 89 9547627 250 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..