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Focused Financial Report 2013 of HSH Nordbank AG Strong for Entrepreneurs 2 HSH NORDBANK AG Lagebericht
FOCuseD FinANCIAL RePORT 2013 OF HSH NORDBANK AG STROng FOR enTREPReneuRS 2 HSH NORDBANK AG Lagebericht CONTENT MANAGEMENT REPORT OF HSH NORDBANK AG 03 Basis 03 Business model 03 Objectives and strategy 04 Management system 05 Remuneration system 06 Economic report 07 Underlying economic and industry conditions 07 Business developments 10 Earnings, net assets and financial position 14 Report on events after the reporting period 23 Forecast, opportunities and risks report 23 Forecast report including opportunities and risks 23 Risk report 30 Risks within HSH Nordbank Group 30 Risk management system 30 Default risk 38 Market risk 47 Liquidity risk 50 Operational risk 57 Other material risks 59 Summary and outlook 60 FINAL DECLARATION TO THE DEPENDENT COMPANY REPORT 62 ANNUAL ACCOUNTS OF HSH NORDBANK AG 63 Balance sheet 63 Income statement 67 Notes 69 AUDITOR’S REPORT 126 RESPONSIBILITY STATEMENT BY THE MANAGEMENT BOARD 127 3 HSH NORDBANK AG Management Report MANAGEMENT REPORT of HSH NORDBANK AG BASIS of the newly formed Savings Banks & Institutional Clients division, which is also part of the Corporates & BUSINESS MODEL Markets segment. Furthermore, the Capital Markets and Products divisions remain assigned to this segment. HSH Nordbank AG was created in June 2003 by the merger of Hamburgische Landesbank – Girozentrale – The administrative and service divisions as well as Over- with Landesbank Schleswig-Holstein Girozentrale (LB all Bank positions and equity holdings not assigned to Kiel) and is managed in the form of a German public segments are included in the Corporate Center segment. limited company (Aktiengesellschaft – AG). The head- quarters of the Bank are located in Hamburg and Kiel. -
Copy of [Original Size] Conference at a Glance
THE ECIIA CONFERENCE AT A GLANCE The ECIIA (European Confederation of Institutes of Internal Auditing) annual conference is held each year in a different European country. For the first time, the Institute of Internal Auditors Luxembourg will host the ECIIA annual conference. The 2019 ECIIA conference will take place from 18 to 20 September 2019 at the European Convention Center in Luxembourg. Come and join us on a journey to Embrace Change and Innovation in Internal Audit ! The ECIIA 2019 conference will WELCOME TO THE HEART OF take place at the European EUROPE Convention Center Luxembourg (ECCL). Ideally situated on the Be captivated by a stay in Luxembourg, a Kirchberg cosmopolitan country in the heart of Europe. plateau in Luxembourg Discover a multicultural city, the Grand Duchy of City, within easy Luxembourg's capital and seat of many European reach of the city institutions. Between tradition and modernity, centre, the let yourself be surprised by its many tourist airport, the places to visit, its UNESCO World Heritage financial district monuments and the numerous museums and as well as squares. touristic sights and several hotels. KEYNOTE SPEAKER Christopher Wylie Trend Forecaster and Cambridge Analytica Whistleblower The New Yorker calls him “a pink-haired, nose-ringed oracle sent from the future”. Best known for hisrole in setting up – and then taking down – the cyberwarfare firm Cambridge Analytica, Chris has beenlisted in TIME100 Most Influential People in the World, Forbes’ 30 Under 30, Politico’s 50 Most Influential People in Politics and Business Insider’s 100 Coolest People in Tech. Named as “the millennials’ first great whistleblower,” his revelations exposing the rampant misuse of data rocked Silicon Valley and forced numerous Fortune 500 companies to overhaul cybersecurity and user privacy practices. -
June 2021 Published: May 2021 Ed for the Booksellers’ Prize
We’re delighted to introduce the wonderful books gracing our list in the first half of 2021. Featuring an epic debut of the legacies of migration and the CONTENTS tangled bonds of family (Little Gods), a moving and witty graphic novel about the life of a real ten- New Titles year-old girl (Esther’s Notebooks 1) and an unset- tling psychological thriller about a woman with Pushkin Vertigo multiple personalities (The Eighth Girl), there is New Editions truly something here for every reader. Pushkin Collection From a heartstopping memoir spanning Liberia Recent Highlights and the United States (The Dragons, the Giant, the Women) to a beguiling mystery set in foggy 1990s Prague (The Ghost of Frederic Chopin), from a pacy Israeli crime novel about a serial killer targeting women without children (The Others) to a poignant animal fable by the greatest living Tamil author (The Story of a Goat), this is a list of the world’s best stories, to be read and read again. MY BROTHER KARIN SMIRNOFF Pushkin Press new titles A publishing phenomenon from Sweden: a novel about new titles NEW uncovering family secrets, abuse, trauma and resilience Jana is returning to see her twin brother Bror, still living in the small family farmhouse in the TITLES rural north of Sweden. It’s decrepit and crum- bling, and Bror is determinedly drinking him- self to an early grave. They’re both damaged by horrific childhood experiences, buried deep in the past, but Jana cannot keep running. Alive with the brutality and beauty of the landscape, My Brother is a novel steeped in darkness and violence – about abuse, love, complicity, and coming to terms with the past. -
Here Has Been a Long History of Reform EBRD Had Always Been Held by Either a French Or Proposals for Ifis Which Have Included the Need German National (Table 1)
POLICY BRIEF 19 JUNE 2017 Sir Suma Chakrabarti Source: EBRD Free, open, merit-based selection for a president of an IFI: a rare case study Bob McMullan SUMMARY Despite calls for reforms to selection processes for appointing their leadership, international financial institutions (IFIs) have been slow to embrace transparency and competitiveness, and to move beyond their traditions of automatically appointing nationals of particular countries to their top roles. However, the European Bank for Reconstruction and Development (EBRD) bucked this trend during its selection of a new leader in 2012, due to a unique set of circumstances arising. Bob McMullan, former Australian Member of Parliament and an Executive Director of the EBRD, recounts his experience during this selection process, and offers reflections on how these entrenched processes in IFIs could be slowly changed. KEY POINTS • The case of the EBRD presidential ballot in 2012 shows that from time to time, opportunities may arise to set new precedents in the election of leaders of international financial institutions. • Australia should remain alert to the possibility of circumstances arising which make a free and open elections a possibility in the IFIs of which it is a member. The Development Policy Centre is part of Crawford School of Public Policy at The Australian National University. We undertake analysis and promote discussion on Australian aid, Papua New Guinea and the Pacific and global development policy. Free, open, merit-based selection for a president of an IFI: a rare case -
11 the EBRD Is Enhancing Organisational Capacity to Keep Activities Attuned to and Focused on the Needs of Its 29 Countries
European Bank for Reconstruction and Development 70 Annual Report 2010 Organisation and staffing The EBRD is enhancing organisational capacity to keep activities attuned to and focused on the needs of its 29 countries 11 of operations and the Bank invests in staff to foster business performance and individual growth. Organisation and staffing 71 Staffing verviewo 71 Recruitment overview 71 Compensation and benefits 71 Geographic mobility 71 Learning and development 72 Organisational capacity‑building 73 Employee engagement 73 Working environment 71 The EBRD’s achievements during 2010 in an uncertain economic GEOGRAPHIC MOBILITY environment are testament to the commitment of the Bank’s mission‑conscious and dedicated staff. In preparation for the Bank staff may be assigned temporarily from the London fourth Capital Resources Review (CRR4) period (2011‑15) the Headquarters to another office in a country of operations Bank has focused efforts on organisational capacity‑building (Resident Office), vice versa, or between two Resident Offices. and strengthening the leadership competencies of its staff. These assignments increase the Bank’s operational focus while offering individuals the opportunity to fulfil professional goals by working in a different location. STAFFING OVERVIEW As of 31 December 2010, EBRD staff totalled 1,526 with ACTIVE ASSIGNMENTS AS AT 31 DECEMBER 2010 employees coming from 58 of the 61 Bank’s member countries. Of these staff members, 1,172 (or 77 per cent) were based in the London Headquarters. There were 354 employees HQ to RO 64 (compared with 352 in the previous year) working across RO to HQ 4 34 Resident Offices in 26 of the 29 countries of operations. -
A Journey Through Polish Literature
A JOURNEY THROUGH POLISH LITERATURE European Literature 09 OCTOBRE 2013 GORA BERNADETTE Henryk Sienkiewicz (1905), Władysław Reymont (1924), Czesław Miłosz (1980), Wisława Szymborska (1996). How many of you know these four authors and know what they have in common, besides their nationalities? The four of them were awarded a Nobel Prize but nevertheless remain little known outside of Poland. How many of you can give the name of, at least, one polish contemporary author? These examples, among many others, prove that Polish literature remains unknown despite it being a big part of European literature. To start my presentation, I’d like you to have a look on this quotation by Czesław Miłosz who wrote, among other, a book about the History of Polish Literature (The History of Polish Literature, Berckeley,1969). In his work, he wrote “Polish literature focused more on drama and the poetic expression of the self than on fiction (which dominated the English-speaking world). The reasons find their roots on the historical circumstances of the nation.” Over a first phase, it thus seems important to start out with a broad overview of the general history of Polish literature throughout the ages before we can understand what happened during the 20th century, and fully understand the main references to the previous time periods which we can find today. In Polish literature, historical problems have always been an essential characteristic. One can notice that Polish literature has always been torn between its social duties and literary obligations. With this in mind, it is possible for me to offer you the promised journey through my national literature. -
EBRD-NGO Newsletter Keeping You Up-To-Date with the EBRD
EBRD-NGO Newsletter Keeping you up-to-date with the EBRD EBRD promotes September 2008 road safety In this edition In an attempt to identify effective in their prime working years. Welcome to the NGO Newsletter 13 ways of reducing road deaths and Brigita Schmögnerová, EBRD injuries in developing countries, Vice President for Environment, This issue provides an insight into how the more than 100 representatives Procurement and Administration, EBRD prepares new country strategies as from local governments, regional pointed out that casualties from well as a write-up of the recent EBRD-hosted development banks, donor road accidents have increased conference on road safety in developing governments, UN agencies, road by more than 30 per cent in the countries. safety experts and NGOs gathered EBRD’s countries of operations, at the Bank’s headquarters on costing almost 2 per cent of GDP There is also a report on the recent Board 4 July 2008 for a conference annually. consultation visit to Russia, selected entitled “Making Roads Safe”. The EBRD views improvements projects and our new publications. As always, The event was co-organised by in health and safety as an integral we keep you up-to-date with our consultation the EBRD, the FIA Foundation, part of the transition process in the World Bank Global meetings as well as key policies and its countries of operations. Since Road Safety Facility and the strategies that are under review. 1991, the Bank has invested €2.7 Commission for Global Road billion in 51 safer road projects Safety. in 21 countries from Central The main focus of the conference Asia to the Western Balkans. -
Nederlands Letterenfonds Dutch Foundation for Literature No. 16
ederlands N letterenfonds dutch foundation for literature Quality Non- Fiction from Holland no. 16 autumn 2011 Vincent van der Noort The Numbers Are Your Best Friends Foundation Confessions of a nerd The most beautiful of all mathematics, writes young mathematician Vincent van der Noort (b. 1980) Dutch Foundation The Dutch Foundation for Literature stimulates interest Vincent van der Noort, involves problems you could explain to a child studied mathematics at the for Literature in Dutch literary fiction, non-fiction, poetry and children’s University of Amsterdam and yet which even the cleverest thinkers are as yet unable solve. Better still, Nieuwe Prinsengracht 89 books by providing information and granting translation gained his doctorate at the 1018 VR Amsterdam the fact that professional mathematicians are stumped does not put it Tel. +31 20 520 73 00 subsidies. The foundation maintains contacts with a University of Utrecht on the Fax +31 20 520 73 99 large number of international publishers, and has a beyond the bounds of possibility that an eleven-year-old will come up subject of symmetries in spaces The Netherlands stand at major international book fairs, including the with the answer one morning under the shower. whose dimensions are infinite. [email protected] www.letterenfonds.nl Frankfurt Book Fair, the London Book Fair and the He has been a supervisor at Beijing Book Fair. mathematics camps for school- Non-Fiction Numbers Are Your Best Friends presents a broad selection of mathematical Maarten Valken, children and currently works as [email protected] Translation Grants problems, insights, theories, games, observations, even mathematical a maths teacher. -
2010 Annual Report
ANNUAL REPORT 2010 Bruegel’s members State members Corporate members Austria Areva Belgium Deutsche Bank Cyprus Deutsche Telekom Denmark EDF Finland Ernst & Young France Erste Bank Group Germany GDF Suez Greece Goldman Sachs Hungary Google Ireland Microsoft Italy Novartis Lithuania Pfizer Luxembourg Qualcomm Netherlands Renault Poland Samsung Electronics Slovenia Syngenta Sweden UniCredit Spain United Kingdom Institutional members European Investment Bank European Bank for Reconstruction and Development Members as of June 2011. For further information about Bruegel’s governance and its relationship with its members, see page 31. PAGE 2 BRUEGEL’S ANNUAL REPORT 2010 Contents BRUEGEL’S MISSION . .4 CHAIRMAN’S MESSAGE . .5 DIRECTOR’S INTRODUCTION . .6 OPERATIONAL REVIEW BY RESEARCH AREA . .8 A. GOVERNING THE NEW GLOBAL ECONOMY . .8 B. HEIGHTENED MACROECONOMIC CHALLENGES FOR EUROPE . .12 C. EUROPE’S QUEST FOR ECONOMIC PERFORMANCE . .16 D. COMPETITION AND REGULATION IN A MORE INTERVENTIONIST EUROPE . .19 E. CLIMATE AND ENERGY IN THE POST-COPENHAGEN CONTEXT . .23 MEDIA AND COMMUNICATION . .26 FUNDED RESEARCH PROJECTS . .27 TEAM DEVELOPMENT . .29 GOVERNANCE . .31 FINANCIALS . .33 AUDITOR’S REPORT . .37 BRUEGEL’S PEOPLE . .38 BRUEGEL’S ANNUAL REPORT 2010 PAGE 3 Bruegel’s mission BRUEGEL AIMS TO CONTRIBUTE TO THE QUALITY OF ECONOMIC POLICYMAKING IN EUROPE THROUGH OPEN, FACT-BASED AND POLICY-RELEVANT RESEARCH, ANALYSIS AND DISCUSSION. Bruegel is defined by five key features: Outward-oriented focus. Bruegel aims to con- are fully independent. All publications are tribute to a better understanding of the eco- released under the signature of their nomic challenges and responsibilities facing author(s), and Bruegel itself abstains from Europe in the context of globalisation. -
«Poor Family Name», «Rich First Name»
ENCIU Ioan (S&D / RO) Manager, Administrative Sciences Graduate, Faculty of Hydrotechnics, Institute of Construction, Bucharest (1976); Graduate, Faculty of Management, Academy of Economic Studies, Bucharest (2003). Head of section, assistant head of brigade, SOCED, Bucharest (1976-1990); Executive Director, SC ACRO SRL, Bucharest (1990-1992); Executive Director, SC METACC SRL, Bucharest (1992-1996); Director of Production, SC CASTOR SRL, Bucharest (1996-1997); Assistant Director-General, SC ACRO SRL, Bucharest (1997-2000); Consultant, SC GKS Special Advertising SRL (2004-2008); Consultant, SC Monolit Lake Residence SRL (2008-2009). Vice-President, Bucharest branch, Romanian Party of Social Solidarity (PSSR) (1992-1994); Member of National Council, Bucharest branch Council and Sector 1 Executive, Social Democratic Party of Romania (PSDR) (1994-2000); Member of National Council, Bucharest branch Council and Bucharest branch Executive and Vice-President, Bucharest branch, Social Democratic Party (PSD) (2000-present). Local councillor, Sector 1, Bucharest (1996-2000); Councillor, Bucharest Municipal Council (2000-2001); Deputy Mayor of Bucharest (2000-2004); Councillor, Bucharest Municipal Council (2004-2007). ABELA BALDACCHINO Claudette (S&D / MT) Journalist Diploma in Social Studies (Women and Development) (1999); BA (Hons) in Social Administration (2005). Public Service Employee (1992-1996); Senior Journalist, Newscaster, presenter and producer for Television, Radio and newspaper' (1995-2011); Principal (Public Service), currently on long -
Slovakia 2 3 Pussycats Fly to Canada
RAÝMAN Children’s Balogh Books HOFFSTÄDTER from Matus ČECHOVÁ BLAŽKOVÁ Matlovičová CENTRE FOR INFORMATION 2021 ON LITERATURE ŠUKOLOVÁ RANKOV Dono MAJLING Gľaba SALMELA Matlovičová VADAS Olejníková GÄRTNER Matus SLOVAKIA 2 3 Pussycats Fly to Canada AN ENTERTAINING STORY FEATURING TWO PUSSYCATS, MISSIE AND LIZZIE, WHO SET OUT TO VISIT THEIR AUNT JOSEPHINE IN CANADA. One day two pussycats, Missie and Lizzie, receive a letter from Aunt Josephine inviting them for a visit in Canada. Not any old visit, but a visit by air! They will be famous globe-trotting pussycats! Packing for the big journey, they cram everything they can find into their suitcase. The pussycats are worried of having to travel in cargo, in a cage with a big and a small dog, a green owl and an untamed Slovak chamois. But they scrub up well, with black gloves and all, and manage to slip past airport staff into the main cabin. Want to know what awaits them in Canada? You’ll find out after landing. This playful and amusing story by the grand dame of modern Slovak fairytale is complemented by witty illustrations. 4 JAROSLAVA blažkOVÁ Buvik_Blazkova-MACKY-220x220mm-kniznyMartina blok-print.indd 4 Matlovičová25/06/2020 16:35 4 5 ‘Hurrah, we’re going on an expedition!’ Missie exclaimed happily. Selected Awards – Jaroslava JAROSLAVA BLAŽKOVÁ ‘Yay, we’ll be famous explo... explo... explosions – I mean, explorers,’ ... Blažková 1933 – 2017 said Lizzie, jumping for joy. ‘We’ll see all the wonders of the world’ • 1964 H. Ch. Awards – IBBY Despite living most of her life in exile in Canada, Blažková ‘We’ll meet all the wonderful tomcats!’ Honour List continues to be regarded as one Slovakia’s most important ‘We’ll be millionaires!’ • 2006 Anasoft Litera Prize – 20th century writers. -
The Implications of EIB and EBRD Co-Financing for the EU Budget
DIRECTORATE GENERAL FOR INTERNAL POLICIES POLICY DEPARTMENT D: BUDGETARY AFFAIRS The implications of EIB and EBRD co-financing for the EU budget STUDY This document was requested by the European Parliament's Committee on Budgets. It designated Ivailo Kalfin and Jean-Luc Dehaene, MEPs, to follow the study. AUTHORS Dr. Nick Robinson School of Politics and international Studies University of Leeds Leeds LS2 9JT UK Dr. Robert Bain RBconsult Ltd Oak Tree Cottage, Long Barn Road Weald, Kent TN14 6NH UK RESPONSIBLE ADMINISTRATOR Ms Fabia JONES Policy Department D: Budgetary Affairs European Parliament B-1047 Brussels E-mail: [email protected] LINGUISTIC VERSIONS Original: EN Executive summaries: DE and FR ABOUT THE EDITOR To contact the Policy Department or to subscribe to its newsletter please write to: poldep- [email protected] Manuscript completed in March 2011. Brussels, © European Parliament, 2011. This document is available on the Internet at: http://www.europarl.europa.eu/studies DISCLAIMER The opinions expressed in this document are the sole responsibility of the author and do not necessarily represent the official position of the European Parliament. Reproduction and translation for non-commercial purposes are authorized, provided the source is acknowledged and the publisher is given prior notice and sent a copy. DIRECTORATE GENERAL FOR INTERNAL POLICIES POLICY DEPARTMENT D: BUDGETARY AFFAIRS The implications of EIB and EBRD co-financing for the EU budget STUDY Abstract Recent years have seen the growth of a number of EU co-financing instruments designed to enhance the leverage of the EU budget by working more closely with the European Investment Bank and the European Bank for Reconstruction and Development.