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27.06.2007

Senior management changes in DVB's Shipping Finance team

DVB Bank AG, the Frankfurt-based transport finance specialist, is pleased to announce that Martin Hessels will relocate to Rotterdam with effect from 1st July to take up the position of Global Head of Credit - Shipping as well as Deputy Managing Director of DVB Bank N.V., which is a wholly-owned subsidiary of DVB Bank AG. Mr Hessels will transfer to Rotterdam from Singapore after six and a half years as the Regional Head of Shipping Asia and Managing Director of DVB’s wholly-owned subsidiary DVB Group Merchant Bank (Asia) Ltd in Singapore. Prior to that he spent three and a half years in New York, followed by four years in Greece, where he was responsible in each case for the bank's regional shipping business.

In his new global role Mr. Hessels will focus on the credit and risk side of the bank's shipping business, where his previous considerable experience in some of the bank's most important markets will be very valuable. He will report directly to Wolfgang Driese, CEO and Chairman of the Board of Managing Directors of DVB Bank AG.

Mr. Hessels succeeds Dieter Bulling, who has headed Credit Shipping for the last five years. Mr. Bulling's resignation as Head of Credit Shipping is by his own request, and he will continue to support DVB Bank on credit issues and on a project basis.

At the same time, Evan Cohen will transfer to Singapore from Rotterdam to succeed Martin Hessels as Regional Head of Shipping Asia and Managing Director of DVB Group Merchant Bank (Asia) Ltd. with effect from 1st July. Mr. Cohen will transfer to Singapore after five years in Rotterdam where, most recently, he headed DVB’s Continental European Shipping operations. Prior to joining DVB, Mr. Cohen spent ten years in Geneva, working with ship owners and ship managers.

In turn, Peter Bergman will succeed Mr Cohen in Rotterdam. Mr. Bergman joined DVB in 2005 as a senior relationship manager. Before joining DVB he held commercial positions in various banks, working in Commodity Finance, general transportation, and shipping.

Note to Editors:
DVB Bank AG, based in Frankfurt/Main, is an international advisory bank and finance house that specialises in the global transport market. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, New York, Rotterdam, Hong Kong, Singapore, Tokyo, Bergen/Oslo, Piraeus, and Curaçao. DVB Bank AG is listed on the Frankfurt Stock Exchange (ISIN: DE0008045501).

Contact:
Prof. Dr. Borislav Bjelicic, Phone +49 69 9750-4390, Fax +49 69 9750-4333, DVB Bank Aktiengesellschaft, Corporate Communications, Friedrich-Ebert-Anlage 2-14, 60325 Frankfurt/Main, Germany, borislav.bjelicic@dvbbank.com, www.dvbbank.com