Georg Funke

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Georg Funke (born April 29, 1955 in Gelsenkirchen ; † June 5, 2018 ) was a German manager . From July 2003 to October 2008, he was CEO of Hypo Real Estate Holding AG (HRE).

job and career

In 1982, Funke, a business economist, joined Westdeutsche Wohnhäuser AG (Essen) and subsequently held various positions. In 1984 he moved to the Düsseldorf branch of Bayerische Hypotheken- und Wechselbank and was co-head of the London branch from 1989 to 1998. After the merger of Bayerische Hypotheken- und Wechselbank with Bayerische Vereinsbank to form Bayerische Hypo- und Vereinsbank (HypoVereinsbank) , he became head of the UK division of HypoVereinsbank.

After the spin-off of HRE from HypoVereinsbank, he became its chairman on July 28, 2003. According to the HRE annual report, he received total remuneration of 3.1 million euros in 2006 (fixed salary of 0.8 million euros plus variable salary of 2.2 million euros).

On October 7, 2008, Funke resigned from his management board mandate at HRE and all other mandates in the HRE Group. The supervisory board resigned him in December 2008. He drew public criticism when, from February 2009, he made two lawsuits against his former employer HRE in the amount of around 12 million euros.

Funke worked as a luxury real estate broker in Mallorca, where he owned several vacation properties.

In 2012, a subsidiary of HRE filed a lawsuit against Funke with the Munich I Regional Court. The company demanded 52 million euros in damages from Funke and two other ex-board members in a certain loan case.

On March 20, 2017, a criminal case against Funke and another defendant began before a commercial criminal chamber of the Munich District Court I. At the end of September 2017, the chamber closed the proceedings; As a condition , it imposed the payment of 18,000 euros to non-profit associations because the necessary evidence could not be obtained quickly enough and thus the allegation from the preparation of the balance sheet for 2007 would have been statute-barred in March 2018 and then from August 2018 also the half-year balance sheet for 2008.

The state took over the damage from the bank's failure, and according to the federal government the amount will amount to over 20 billion euros by 2018.

As it became publicly known in November 2018, Funke died in June of that year at the age of 63 after a brief illness.

Web links

Footnotes

  1. ↑ a b Martin Hesse and Stefan Kaiser: Georg Funke is dead . In: Spiegel Online . November 13, 2018. Retrieved November 13, 2018.
  2. ^ Hypo Real Estate Annual Report 2004 ( Memento of December 10, 2006 in the Internet Archive ) (PDF 1.5 MB), March 14, 2005.
  3. ↑ 2006 Annual Report ( Memento of May 10, 2007 in the Internet Archive ) ( PDF , 2.5 MB), March 28, 2007.
  4. ↑ Nicolas Katzung: HRE employs the German courts . In: Immobilien-Zeitung from March 16, 2017 page 3 .
  5. ↑ Florian Rötzer: Millions for billions in losses? , Telepolis, March 6, 2009.
  6. ↑ A1 Real Estate (company website), accessed on 14 November 2018th
  7. ↑ Klaus Ott: Ex-boss of Hypo Real Estate - Avengers of Mallorca . Süddeutsche.de. February 13, 2012. Accessed December 31, 2016.
  8. ^ Klaus Ott: Nationalized bankruptcy bank - Hypo Real Estate demands damages from ex-CEO Funke . Süddeutsche.de. September 11, 2013. Accessed December 31, 2016.
  9. ↑ spiegel.de March 20, 2017: "I don't have a job"
  10. ↑ sueddeutsche.de March 21, 2017: "The HRE has been destroyed from the outside"
  11. ↑ The face of the financial crisis. In: faz.net , October 1, 2017, accessed November 15, 2018.
  12. ↑ Christian Schnell: Ex-HRE boss benefits from the time pressure of the judiciary. In: handelsblatt.com , September 24, 2017, accessed November 15, 2018.
  13. ↑ Stephan Radomsky: He was the face of the financial crisis . Süddeutsche.de. November 13, 2018. Retrieved November 13, 2018.
personal data
SURNAME Spark, Georg
BRIEF DESCRIPTION German bank manager
DATE OF BIRTH April 29, 1955
PLACE OF BIRTH Gelsenkirchen , North Rhine-Westphalia
DATE OF DEATH June 2018