Company Overview of Portigon AG
Portigon AG provides various financial services worldwide. The company offers portfolio solutions, including portfolio transition services, which assist in the valuation and takeover of portfolios; and portfolio acquisition services that assist its clients in developing portfolio creation strategies and managing new investments. It also provides portfolio services, such as portfolio analysis and reporting, asset servicing, liability and derivatives servicing, and risk analysis and rating services. In addition, the company offers platform services comprising loan processing, capital markets operations, liability processing, financial and regulatory reporting, and IT services. Further, it prov...
Key Executives for Portigon AG
Chairman of Managing Board
Head of Global Sales & Financial Institutions Business
Head of Emerging Market Sales
Head of Derivatives & Structured Solutions
Compensation as of Fiscal Year 2014.
Portigon AG Key Developments
Portigon AG Reports Earnings Results for the Six Months Ended June 30, 2014
Aug 28 14
Portigon AG reported earnings results for the six months ended June 30, 2014. For the period, the company reported net fee and commission income totaled EUR 117 million compared to EUR 130 million in last year. Net interest income was EUR 29 million against EUR 62 million a year ago. Loss before income tax was EUR 353 million against EUR 81 million a year ago. Loss after income tax was EUR 357 million against EUR 80 million a year ago. The decline in net interest income is also closely related to effects regarding the result from financial instruments fair valued through profit and loss. The decline in net fee and commission income is a consequence of the successful wind-down of the former WestLB portfolio, which is reflected in a commensurately lower servicing volume.
Portigon AG Closes Istanbul Branch
Jul 14 14
Portigon AG has achieved an important milestone in its scheduled wind-down. With effect from July 7, 2014, the Istanbul Branch was closed. On this day, the Turkish Commercial Court approved the deregistration of the branch, thus paving the way for the official end of the former WestLB's business activity in Turkey. Number of foreign branches reduced in close coordination with the foreign supervisory authorities.
Portigon AG Appoints Kai Franzmeyer as Chairman of the Managing Board to Replace Dietrich Voigtlander
May 6 14
Portigon AG, or PAG, a provider of commercial banking services, has appointed Kai Franzmeyer as the new chairman of the managing board of PAG. The management responsibilities of Dietrich Voigtlander at PAG has ended with immediate effect.
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