The Supervisory Board of FMS Wertmanagement (FMS-WM) addressed Executive Board matters at its meeting on 6 October 2016. Ernst-Albrecht Brockhaus (56) the Executive Board member responsible for funding as well as the management of liquidity and market risks and the Commercial Real Estate portfolio, will not extend his contract when it expires in summer 2017 and will instead devote himself to new professional challenges after seven years at FMS-WM. Christoph Müller (45) will join the Executive Board of FMS-WM at that point.

"Bidding farewell to Ernst-Albrecht Brockhaus means losing a colleague held in extremely high regard by all of our staff members and business partners. He has contributed significantly to the development of FMS-WM and has laid a firm foundation for successfully unwinding the portfolio by securing funding," said Jan Bettink, Chairman of the Supervisory Board. "The winding-up of the FMS-WM real estate portfolio has also accelerated further under his leadership. As a member of the Board of Directors for DEPFA Bank plc in Dublin he played a major role in paving the way for the successful unwinding of the Irish banking group. The Supervisory Board would like to thank Ernst-Albrecht Brockhaus wholeheartedly for his outstanding contribution and wishes him all the best in both his professional and personal future pursuits."

"Our task of securing sustainable funding is largely complete," said Executive Board member Brockhaus. "I am therefore departing with mixed emotions, as the unique challenges and collaboration with my Executive Board colleagues, co-workers and, of course, the Supervisory Board have made my time here a great pleasure."

"We would also like to thank Ernst-Albrecht Brockhaus sincerely for his unwaveringly loyal cooperation and wish him continued success in the future," said Executive Board spokesman Stephan Winkelmeier. "By announcing his successor quickly, the Supervisory Board has ensured continuity, as Christoph Müller has led FMS-WM's Risk Controlling, Finance & Portfolio Steering unit since the company was founded. I look forward to working with him and our Chief Operating Officer Frank Hellwig (56) as we work together to decide on changes to the allocation of Executive Board responsibilities during the coming year."

FMS-WM was established in July 2010 as the Federal government’s winding-up institution for the purpose of taking over and unwinding the HRE Group’s risk positions and non-strategic operations in ways aimed at minimising losses. Favourable funding conditions in the capital markets are key to this endeavour. The Federal Republic of Germany is the sole owner of FMS-WM via the Financial Market Stabilisation Fund – FMS (SoFFin).

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