HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory Board put the proposal to the shareholders’ meeting as one element of the corporate strategy to strengthen the maritime services segment and position the company as an asset and investment manager with a maritime focus. The future business model, in which the Group offers its services as a one-stop shop covering the entire value chain, was presented to the shareholders at the general meeting.

 The Group is no longer solely dependent on its previous business model of raising and managing funds. The change of name is intended to be a visible expression of how the company has repositioned its business and relaunched its own brand.
 
Jens Mahnke, CEO: ‘Ernst Russ has been in existence for more than 120 years; it is one of the oldest shipping companies in Hamburg and one of the best known internationally. It is in this spirit that we intend to adopt and perpetuate its name, which stands for Hanseatic dependability, resoluteness and quality. Our group of companies embodies a holistic approach and offers our partners expertise, extensive sector knowledge and a unique network.’
 
A decision was also taken to increase the number of Supervisory Board members from three to four. This agenda item was also adopted at the shareholders’ meeting. Robert Lorenz-Meyer and Robert Gärtner were elected as new Supervisory Board members.