Company Overview of Portigon AG
Portigon AG provides various financial services worldwide. The company offers portfolio solutions, including portfolio transition services, which assist in the valuation and takeover of portfolios; and portfolio acquisition services that assist its clients in developing portfolio creation strategies and managing new investments. It also provides portfolio services, such as portfolio analysis and reporting, asset servicing, liability and derivatives servicing, and risk analysis and rating services. In addition, the company offers platform services comprising loan processing, capital markets operations, liability processing, financial and regulatory reporting, and IT services. Further, it prov...
Key Executives for Portigon AG
Chairman of Managing Board, Chief Financial Officer, Chief Risk Officer and Employee Relations Director
Head of Global Sales & Financial Institutions Business
Head of Emerging Market Sales
Head of Derivatives & Structured Solutions
Compensation as of Fiscal Year 2014.
Portigon AG Key Developments
Portigon AG Announces Resignation of Stefan Dreesbach as Member of Managing Board
Dec 9 14
Portigon AG announced that Stefan Dreesbach will resign from the managing board of the company with effect from December 31, 2014 at his own request and by mutual agreement. Dr. Kai Wilhelm Franzmeyer and Dr. Peter Stemper will take over his tasks.
Portigon AG Closes Shanghai Branch
Oct 17 14
Portigon AG continues to wind down its foreign branches as planned. With the Istanbul Branch closed earlier this year, the recent shutdown of the Shanghai Branch is this year’s second branch closure. In mid-September 2014, Portigon AG obtained the official approval from the State Administration for Industry & Commerce for the deregistration of the Shanghai Branch. The company code and the statistical key number were deregistered at the same time, which means that the company no longer appears in any official register. The official final report was sent to the China Banking Regulatory Commission in mid-October. This means that all formal preconditions for the closure have been met.
Portigon AG Reports Earnings Results for the Six Months Ended June 30, 2014
Aug 28 14
Portigon AG reported earnings results for the six months ended June 30, 2014. For the period, the company reported net fee and commission income totaled EUR 117 million compared to EUR 130 million in last year. Net interest income was EUR 29 million against EUR 62 million a year ago. Loss before income tax was EUR 353 million against EUR 81 million a year ago. Loss after income tax was EUR 357 million against EUR 80 million a year ago. The decline in net interest income is also closely related to effects regarding the result from financial instruments fair valued through profit and loss. The decline in net fee and commission income is a consequence of the successful wind-down of the former WestLB portfolio, which is reflected in a commensurately lower servicing volume.
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