Winfried Hutmann

BHF Capital Management GmbH is a wholly-owned subsidiary of Frankfurt-Trust Investment GmbH, in turn wholly-owned by BHF Bank AG, which in 2008 was acquired by Sal. Oppenheim jr. & Cie. SCA in Luxembourg. The seller was Oppenheim Beteiligungs AG, part of the Cologne-based Sal. Oppenheim jr. & Cie. KGaA. BHF Capital was established in 1996 and is based in Frankfurt. The firm is a research entity supporting Frankfurt-Trust as well as the private banking activities of BHF Bank. Their analysts are sector specialists who generate a stream of buyside analysis for the BHF group. BHF Capital is undergoing restructuration and is in the process of being folded into the asset allocation department of BHF Bank.

FRANKFURT-TRUST Investment-Gesellschaft mbH (FTI) is the Germany-based wholly-owned asset management subsidiary of ODDO BHF Asset Management GmbH, ultimately held by Oddo BHF SCA in France. Established in 1969, FTI is headquartered in Frankfurt and manages funds for private individuals and institutional investors.