in relation to its participation in the scandal and whether more charges and penalties might be forthcoming. The articles now estimate the scandal cost the German Treasury approximately 12 billion euros. Company Management The members of the Board of Managing Directors of Hamburg Commercial Bank are: Stefan Ermisch, (Chairman of the Board of Managing Directors) since June 10, 2016 (previously, since December 1, 2012, Chief Financial Officer) Ulrik Lackschewitz (Chief Risk Officer since October 1, 2015, and Deputy Chairman of the Board of Managing Directors since December 10, 2018) Ian Banwell (since April 1, 2019, Chief Financial Officer since September 1, 2020) Nicolas Blanchard (since December 10, 2018, still until the end of 2021) Christopher Brody (Chief Investment Officer since July 1, 2019). As reported by Hamburger Abendblatt in April 2020, the remuneration of the Executive Board was more than quintupled from €3.5 million for 2018 to €18.9 million for 2019. According to the report, the new Executive Board members Brody and Banwell will each receive between four and five million euros a year, including bonuses. Ownership After the sale of HSH Nordbank in 2018 the shareholders in the institution are: References External links Hamburg Commercial Bank HSH-Nordbank AG Home Page Banks established in 2003 Companies based in Hamburg Companies based in Kiel Landesbanks Government-owned companies of Germany German companies established in 2003