Deutsche Pfandbriefbank unveils real estate finance head

Bernhard Scholz has been appointed to the management board of the Munich-based lender specifically responsible for real estate finance.

Deutsche Pfandbriefbank, the German company formed out of a merger between Hypo Real Estate and DEPFA Pfandbriefbank, has unveiled the board member responsible for real estate finance.

Bernhard Scholz, 51, has been appointed to the management board and will assume the position in January.

Axel Wieandt, the chief executive of Deutsche Pfandbriefbank who was parachuted in last year when the bank needed rescuing by the German government, called Scholz a “seasoned real estate finance expert”.

He joins from Münchener Hypothekenbank, where he was most recently responsible for commercial real estate finance.

The announcement follows news earlier this month that Deutsche Pfandbriefbank had returned to the syndication market. The bank said it had placed the largest part of a €110 million facility for logistics firm ProLogis with two German banks.

It added the syndication was one of the largest syndications since the “outbreak” of the financial market crisis in the autumn of 2008.