MM Warburg & Co has taken over the remaining shares in Warburg Invest Holding GmbH from NORD/LB (Norddeutsche Landesbank Girozentrale) and is thus the sole owner of Warburg Invest AG Hannover, formerly NORD/LB Asset Management AG.
In February 2019, Warburg had already taken over 75.1% of the shares in the former asset manager of NORD/LB as a first step, thereby taking over the entrepreneurial leadership. NORD/LB initially held remaining stake in the holding company. The takeover by Warburg Bank has now been completed with the increase of the shares to 100%.
As planned, Warburg unites the two capital management companies Warburg Invest Kapitalanlagegesellschaft mbH based in Hamburg and Warburg Invest AG in Hanover under the umbrella of Warburg Invest Holding GmbH.
With assets under management and administration totaling more than €36bn and around 130 employees, one of the most important asset managers in Northern Germany is being created. More than 100 employees of Warburg Invest AG moved to the premises of MM Warburg & CO in Hanover in mid-June, thus strengthening Warburg's presence in Lower Saxony.
Changes in the management
Caroline Specht extends the management of Warburg Invest AG as a member of the executive board. She is working together with the long-time chairman of the board Carsten Schmeding and the member of the board Andreas Lebe.
Specht has been managing director of Warburg Invest in Hamburg since 2017. Lebe will retire at the end of July as planned, leaving the executive board in good terms.
Christian Schmaal takes over Specht former position in the management of the Hamburg-based Warburg Invest Kapitalanlagegesellschaft mbH. Schmaal has worked for 20 years at Warburg Bank, where he was head of Risk Controlling. He will be working with Matthias Mansel, who has been working for Warburg Invest since 2011 and will be responsible for portfolio management as managing director.
The acquisition of all shares by Warburg Bank also changes the composition of the supervisory bodies. The Supervisory Board of Warburg Invest AG will now be replaced by Peter Rentrop-Schmid, partner of Warburg Bank, as chairman. Joachim Olearius is the chairman of the Supervisory Board of Warburg Invest Holding.