Markus Nitsche becomes new head of NORD/LB’s Singapore branch

Markus Nitsche becomes the new General Manager of the NORD/LB branch in Singapore. The 53-year-old economist joins NORD/LB from the real estate finance subsidiary Deutsche Hypo, whose London branch he has headed since 2011. He succeeds Frank Schrader, who was appointed head of NORD/LB's real estate finance business on 1 July.

Markus Nitsche has worked for Deutsche Hypo since 2001, initially as a credit analyst responsible for US and UK business. In 2003, the Hanover native took over as Head of Marketing, Corporate Communications and Investor Relations.

"With his particular analytical and communication strengths, Markus Nitsche is an excellent choice for the responsible position in Singapore. He has broad international experience, both in the credit business and in leading teams as well as in communicating with supervisory authorities. Markus Nitsche will continue to develop our business in the Asia-Pacific region with our Asia team and the relevant market and back-office units and continue the successful work of Frank Schrader," said Olof Seidel, Chief Financial Officer of NORD/LB and member of the Managing Board responsible for the bank's business in Asia.

The branch in Singapore is of central importance for NORD/LB's business activities in the Asia-Pacific region. Among other things, clients from the special finance segment are served in Singapore. This includes supporting energy and infrastructure as well as aircraft clients in their financing projects. Around 60 people work for NORD/LB’s Singapore branch.

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NORD/LB Norddeutsche Landesbank is one of the leading German commercial banks with total assets of EUR 120 billion. The core business segments include business with corporate customers, private and commercial customers including private banking as well as special finance in the energy and infrastructure sector, aircraft finance and commercial real estate finance. The bank is headquartered in Hanover, Brunswick and Magdeburg and has branches in Bremen, Oldenburg, Hamburg, Schwerin, Düsseldorf, Munich and Stuttgart. Outside Germany NORD/LB is represented by a Pfandbrief Bank (NORD/LB Covered Bond Bank) in Luxembourg and branches in London, New York and Singapore.