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HSH Nordbank CEO wants to exit contract

The state-owned German bank is one of the biggest in maritime finance and currently grappling to sell off bad shipping loans. Now the bank could also be looking at a new CEO over the next few months.

While Hamburg-based HSH Nordbank, which is state-owned and one of the world's biggest providers of shipping finance, prepares to sell billions of dollars worth of non-performing loans in an effort to privatize, the bank's CEO Constantin von Oesterreich has asked to be released from his contract.

According to Bloomberg and other media, 62 year-old von Oesterreich, whose contract expires October 2017, wants to be replaced by the bank's current CFO Stefan Ermisch within the coming mnths.

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