Ingrid Matthaeus-Maier, who heads Kreditanstalt füderaufbau, is leaving her post, citing “health reasons,” though she intends to continue her tenure on the board until September. “Turbulence regarding the IKB rescue plan and persistent speculation about me in the past months have made it impossible for me to devote all my strength to my work,” Matthaeus-Maier said. IKB Deutsche Industriebank is a partly-owned bank specializing in small and medium-sized enterprise loans. The said financing institution nearly went bankrupt as it invested heavily in securities supported by U.S. mortgages.
Source: Head of German bank KfW resigns amid problems at IKB: bank (AFP)