Board of DEPFA Bank plc appoints Cyril Dunne as CEO Manuela Better to take over as Chief Risk Officer

The Board of DEPFA Bank plc has approved changes to the company’s top management as part of its ongoing integration into Hypo Real Estate Group.

With immediate effect, Cyril Dunne has been appointed Chief Executive Officer (CEO) of DEPFA Bank in addition to his ongoing function as Chief Operating Officer (COO) at Hypo Real Estate Holding AG. Paul Leatherdale has stepped down as DEPFA CEO to solely focus on the origination part of DEPFA’s public finance and infrastructure business.

Manuela Better, currently CEO Asia for Hypo Real Estate International based inHong Kong, will assume responsibility as DEPFA Chief Risk Officer (CRO) in October. Her replacement in Asia will be announced in due course.

Georg Funke, Chairman of the Board of DEPFA Bank plc, said: “Since its takeover in October 2007, DEPFA Bank has become an essential part of Hypo Real Estate’s business and success. The management changes we announce today both emphasize DEPFA’s importance and enhance the alignment of the bank’s processes with those of Hypo Real Estate Group.”

Source : Hypo Real Estate