DVB Bank establishes Shipping Asset Management - headed by Keith McRae
Frankfurt am Main (euro adhoc) -
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banks
DVB Bank SE, the Frankfurt based bank which specialises in transport finance, today announces that Keith McRae has recently joined DVB in London as the head of its new Shipping Asset Management arm. Keith moves from Bank of Scotland where he previously handled a number of large and higher leverage transactions. He was previously employed with DVB from 2001 to 2006.
Shipping Asset Management is a service developed by DVB to meet the needs of the banking and financial investor community in relation to credit challenges being faced in the current asset backed shipping market. The unit is targeted at assisting such institutions in providing them with access to a wide range of restructuring and recovery techniques, and to assist in managing such situations to best effect. The service provides a confidential and comprehensive service in reaching solutions to any difficulties experienced, with the aim of achieving the best financial outcome possible given the circumstances of each particular case. Using the services will significantly reduce the risk of failure, and increase the prospects for achieving a satisfactory result.
Dagfinn Lunde, Member of the Board of Managing Directors of DVB Bank SE, and responsible for Shipping, said: "I am pleased to announce the formation of the Shipping Asset Management team. This team is aimed at providing a one-stop shop for the banking and financial investor community and at providing them access to DVB´s range of solutions to any challenging scenario. This service is complimentary to our own lending business and we see this as a key way in which we can offer a confidential service to other banks and financial investors in vessels, at a time when the financial world generally is undergoing a period of tremendous change."
Keith is joined in the team by a number of key individuals including Patrick Forinton whose commercial trading, chartering, and FFA experience provide a solid platform to work on commercial issues. The team is further enhanced by Kevin Bourque, DVB´s In-house Shipping Counsel, who will work with Keith and Patrick to provide the core, banking, commercial and legal services offered by the team.
Contact for this press release: Keith McRae, DVB Bank SE, Phone +44(0) 20 7618 9751, Keith.McRae@dvbbank.com
More information about Shipping Asset Management: http://www.dvbbank. com/en/solutions/shipping/shipping_asset_management/index.html
Note to Editors: DVB Bank SE, based in Frankfurt/Main, is the leading specialist in international transport finance. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich, Singapore, Tokyo, New York and Curaçao. DVB Bank SE is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501).
end of announcement euro adhoc
Further inquiry note:
Prof. Dr. Borislav Bjelicic
Corporate Communications
Tel.: +49 (0)69 9750 4390
E-Mail: borislav.bjelicic@dvbbank.com
Branche: Banking
ISIN: DE0008045501
WKN: 804550
Börsen: Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Frankfurt / regulated dealing/general standard