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Deutsche Pfandbriefbank CEO resigns amid DEPFA sale u-turn

Manuela Better, the chief executive officer of Deutsche Pfandbriefbank (PBB) and Hypo Real Estate Holding AG (HRE), resigned yesterday in the wake of German government intervention blocking the sale of Depfa Bank last month.
By James Wallace
June 4, 2014 | 7:42 P.M.

The government’s financial market stabilisation fund, known as Soffin, blocked the sale of Depfa, an Irish bank which makes loans to the Ireland’s public sector, to Leucadia and Massachusetts Mutual for 320m, opting instead for a 20-year wind-up through bad bank FMS Wertmanagement.

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