Surprising departure: KfW manager Hengster moves to Barclays – Wirtschaft

She was considered a candidate for the head of federal development bank KfW – but now she is surprisingly leaving the influential state bank after seven years on the board: According to SZ reports, Ingrid Hengster, 60, previously national director of KfW and responsible for corona support, moves to the big UK bank Barclays. It is still unclear when she will assume the post of leader of Germany there. Neither Barclays nor Hengster wanted to comment on Wednesday.

Among other things, Barclays offers investment banking services in Germany. Before joining KfW in 2014, the Doctor of Laws was in charge of German affairs at the Royal Bank of Scotland. Prior to that, she worked for banks such as ABN Amro, Credit Suisse, UBS and Commerzbank. She came to the KfW on a proposal from the FDP, but she is not a member of the party. The aim was to earn more private money for the financing policy; later she discovered the subject of venture capital for KfW. At first glance, the change therefore fits Hengster’s curriculum vitae.

Your departure is also likely to be related to another person. From October, investment banker Stefan Wintels will be KfW’s new boss. The 54-year-old managed the affairs of the US bank Citigroup in Germany for many years. He succeeds Günther Bräunig, who is retiring. In early June, the leaders of the grand coalition agreed on Wintels as the new head of the funding institute, which is owned by the federal government (80%) and the states (20%). The KfW board of directors, which includes Federal Minister of Finance Olaf Scholz (SPD) and Federal Minister of Economy Peter Altmaier (CDU), formally approved the change.

For a long time, Hengster was seen as Bräunig’s natural successor, especially since the federal government has just devoted a quota of women to joint-stock companies and might have wanted to set a good example for a state-owned company. Wintels, on the other hand, has been part of the investment banking community in Frankfurt for decades and, as such, is well connected with Federal Finance Minister Olaf Scholz and his Secretary of State Jörg Kukies, former co -Responsible for Germany at Goldman Sachs. The Department of Finance, above all, advocated Wintels. The Union joined, although stallions have long been preferred. As soon as Wintels’ name was known, the headhunters contacted Hengster.

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