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Deutsche Bank's Michalak Tapped to Lead KfW Trade Unit

KfW Group, Germany’s state-owned development bank, said it hired Klaus Reinhold Michalak, Deutsche Bank AG’s global chief of structured trade and export financing, to run its export-financing operations.

Michalak, 55, will join KfW IPEX-Bank on May 1, the Frankfurt-based lender said in an e-mailed statement today. The unit employs about 590 people, it said.

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