Martin van Gemmeren handles as HSH-divested businesses, the Board of the Bank. Source: AP
BERLIN. Martin van Gemmeren bears his fate calmly. If the winner native country, whose name appears on ancestors from Holland landed gentry suggesting is successful, his job is redundant. The 39-year-old manager with the graying temples in charge since November 2009 the Management Board of HSH Nordbank, the business of dismantling the so-called bank. In the HSH operates the unit in "Restructuring Unit.
Here are the still deficit-ridden Landesbank their toxic securities and bad loans that no longer viewed as strategically necessary business has pooled. In the latter category includes, for example, private banking, which has bundled the HSH in a Luxembourg company, and the real estate subsidiary HSH Real Estate.
Careful removal of business
Van Gemmerens central task is to reduce this business as gently as possible in order to increase the value of the core bank. This is to be sold in the medium term. Beginning of 2009 made the divested business still accounts for half of the total assets of HSH, or around 100 billion euros. Meanwhile, the amount has reduced a little by the year 2012, it is cut in half. A tough business, where it arrives at the right timing. Van Gemmeren still has much work to do.
Although it has become in its 400-strong unit of the degradation to an indicator of success, should there be no gravedigger mood. The father puts on charm offensive. "That is a super opportunity for us in the Restructuring Unit," he says. In the financial market crisis lacked the ability to separate itself from investments and potential risks in time. Therefore, it would be with the reputation of HSH also not the best. In the degradation bank employees would learn these skills and have therefore very good prospects to recommend itself. At the same time acknowledges van Gemmeren that employees naturally stood before a "huge mental change".
Mathematicians seem to the world’s largest ship financier currently a popular species. CEO Dirk Jens Nonnenmacher is a mathematics professor, van Gemmeren degree in mathematics. After scientific activity at the University of Stuttgart got a van Gemmeren 1996 at the consulting firm McKinsey. Six years later, at 32, he became a partner in the areas of Financial Institutions and Risk Management. Even as a McKinsey man, he was involved with Dresdner Bank Restructering build the unit. In 2006 he moved to the HSH Nordbank, a year later he was promoted to Head of Group Risk Management, cared so at the risk of the group below the Board level. "The time was already planned as a board," says a former allies. could move much Gemmeren van, however. Risk management was seen as a weakness in the Group.
By the financial crisis received the HSH Nordbank heavy list. In the year 2008 was a loss of 2.8 billion euros, only the owner saved billions in aid to the Institute. In the fall of 2008 had the old CEO Hans Berger go, other Board members followed. The Supervisory Board was occupied completely new – and installed former German banker Hilmar Kopper as chief overseer.
Kopper have to be van Gemmeren obviously made impression. For he is one of the few managers who Kopper has lifted the board, he is, so to speak Koppers pupil. Where van Kopper Gemmeren locates in his personal coordinate system is unknown. come for the HSH-executive position only "crazy question," Kopper said at the launch of the new pay system in late 2009. Financially, is likely to have improved despite the van Gemmeren capped executive pay at HSH 500 000.