The Federal Agency for Financial Market Stabilisation (FMSA) has appointed Mr. Ingo Mandt (52) to the Supervisory Board of FMS Wertmanagement with effect from 6 January 2017.
The change will be made in connection with the end of Mr. Klemens Breuer’s term of office. Mr. Breuer will not renew his contract and going forward will exclusively focus on his tasks as a member of the Management Board of Raiffeisen Bank International AG, Vienna/Austria.
“We thank Klemens Breuer for his excellent work in the past three years as a member of the Supervisory Board and wish him all the best for the future,” said Jan Bettink, Chairman of the Supervisory Board of FMS Wertmanagement.
Ingo Mandt, the future member of the Supervisory Board, is a member of the Board of Managing Directors of Landesbank Baden-Württemberg (LBBW). His primary responsibilities concern capital markets, international business and asset management. Until 2009, he served as Chief Financial Officer and Chief Risk Manager on the Board of Managing Directors of BHF-Bank, where he also began his professional career in 1989.
Jan Bettink commented on the new appointment: “We are delighted that such a highly experienced professional has agreed to join our Supervisory Board from 2017. We look forward to our collaboration with Mr. Mandt.”
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 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 Wertmanagement via the Financial Market Stabilisation Fund (SoFFin).