Federal assets – second boss for finance agency – economy

The banker Eva Grunwald is to become co-managing director of the German finance agency and thus succeed Jutta Dönges. The personnel is to be approved in the cabinet meeting on Wednesday, report two people familiar with the matter. Grunwald, who currently sits on the board of Deutsche Bank subsidiary BHW Bausparkasse, will run the agency together with second co-boss Tammo Diemer. Grunwald takes over the office in a year in which the federal government takes on record debts of around 539 billion euros. A spokeswoman for the finance agency declined to comment on the information. In addition to managing government debt and acting as a benchmark bond issuer in the euro area, the Finance Agency oversees the Economic Stabilization Fund set up to deal with the 2020 Covid pandemic. Last year it was rededicated to cushion the effects of high energy prices on households and companies with a budget of 200 billion euros. The agency also manages the federal government’s 16 percent stake in Commerzbank via the financial market stabilization fund, which was set up in 2008 to deal with the financial crisis.

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