Restructuring Unit
Separation into a core bank and a Restructuring Unit will secure sustainability of HSH Nordbank
The Restructuring Unit is a key cornerstone of HSH Nordbank's strategic realignment.
The Restructuring Unit's central task is to wind down or profitably divest with due care and in a controlled manner HSH Nordbank's activities and business segments that are not compatible with its new strategy or that entail high risks, and therefore to strengthen the position of the core bank. Customers' best interests will continue to be guaranteed in the course of this process.
The Restructuring Unit represents a new segment with a stand-alone organizational structure within HSH Nordbank
The separation of the Restructuring Unit from the core bank will be solely of an organizational and not of a legal nature. Selected portfolios will be transferred to the segment, which is itself linked to
The Restructuring Unit commenced operations on December 1, 2009. For most of HSH Nordbank's customers, the restructuring will have no formal impact (account number, sort code). Furthermore, your trusted contacts at the bank will remain available to you as a rule.
Customers and engagements will receive support to disengage them from the Restructuring Unit's customer segments – i.e., wind-down loans, special loans, and divestments. Each customer will be individually notified of any potential changes. Since the Restructuring Unit will initially have a purely organizational structure, there will be no legal consequences for customers. Existing contracts will be unaffected by the transfer to the Restructuring Unit, and thus remain fully valid. The Restructuring Unit will not engage in any new business. Operating units are planned for Hamburg, Kiel, Copenhagen, London, Luxembourg, and New York.
Your trusted contacts remain at your disposal should you have any questions.
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