Company Overview of Portigon AG
Portigon AG provides portfolio management and other financial services worldwide. Its target clients include wind-down vehicles and institutions with internal restructuring units, as well as capital investors holding or intending to acquire credit and/or securities portfolios. The company offers diverse and flexible reporting solutions to accounting issues for different standards, as well as for the cash flow-based liquidation of portfolios over extended periods of time. Portigon provides portfolio services, which include managing large and complex portfolios, including structured financings, securities, and loans on behalf of its clients; and responsible for settling complex credit and inte...
Founded in 1969
Key Executives for Portigon AG
Chief Executive Officer of Home Funding Limited
Compensation as of Fiscal Year 2013.
Portigon AG Key Developments
Portigon AG Reports Earnings Results for the Six Months Ended June 30, 2013
Aug 29 13
Portigon AG reported earnings results for the six months ended June 30, 2013. For the period, the company reported net interest income of EUR 62 million against EUR 343 million a year ago. Net interest income after impairment charge for credit losses was EUR 69 million against EUR 209 million a year ago. Loss before income tax was EUR 81 million against EUR 365 million a year ago. Loss after income tax was EUR 80 million against EUR 343 million a year ago.
Portigon AG to Reduce Headcount to 150 by 2016
Apr 19 13
Portigon AG will slash its total headcount to 150 from 2,600 by 2016. A further 510 jobs will be lost in 2014, and by 2015 the total headcount will stand at 240 employees. By the end of 2016, Portigon will have 150 employees remaining.
Group of 16 Banks Win Dismissal of Most Rate-Rigging Claims
Mar 29 13
A group of 16 banks including Bank of America Corp, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, HSBC Holdings PLC, J.P. Morgan Chase & Co, Royal Bank of Canada, Royal Bank of Scotland and WestLB AG have won dismissal of most of the claims in private lawsuits alleging that they rigged a key interest rate. They had been accused by a diverse body of private plaintiffs, ranging from bondholders to the city of Baltimore, of conspiring to manipulate the London Interbank Offered Rate (Libor), a key benchmark at the heart of more than $550 trillion in financial products. U.S. District Judge Naomi Reice Buchwald in New York dismissed antitrust claims brought against the banks by a group of plaintiffs that included the City of Baltimore and some pension funds. The plaintiffs alleged that they had suffered losses because the banks had manipulated the London Interbank Offered Rate, or LIBOR.
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