Goodbye Essenhyp and thanks for the memories

The once-proud name of Hypothekenbank in Essen is taking its last bow with the announcement today that Commerzbank will be merging it into Eurohypo. The disappearance of one of the trailblazers of the jumbo Pfandbrief market was seen as inevitable since last year when Commerzbank made clear its intention to take full control of its part subsidiary and with the resignation of Essenhyp founder and chairman Hubert Schulte-Kemper last March.