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NRW.Bank chief is candidate to head KfW-sources

Wed Apr 30, 2008 3:45am EDT

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BERLIN, April 30 (Reuters) - NRW.Bank chief Ulrich Schroeder is a candidate to take over at the helm of German state development bank KfW [KFW.UL], financial sources said, adding the government would decide on the bank's new head on Wednesday.

KfW controls subprime casualty IKB (IKBG.DE), Germany's most high-profile casualty of the global financial markets crisis.

NRW.Bank is the development bank for the state of North Rhine-Westphalia, Germany's most populous state. Schroeder has been a member of NRW.Bank's managing board since it was established in August 2002.

Ingrid Matthaeus-Maier quit as KfW chief earlier this month after facing criticism over the handling of the crisis at IKB.

IKB has been rescued three times at a cost of more than 8 billion euros ($12.5 billion), mostly with the help of KfW. (Reporting by Matthias Inveradi; Editing by Erica Billingham)



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