Ex-Rothschild Banker Says Hypo Was a ‘Fit’ for BayernLB

Hypo Alpe-Adria-Bank International AG was “a strategic fit” for Bayerische Landesbank, a former Rothschild banker advising the lender on the acquisition testified at a criminal trial over the deal.

When Rothschild compiled an early valuation in February 2007, “Hypo Alpe-Adria didn’t look like a toad; it seemed like an obvious target,” Oliver Bender, who worked for Rothschild in Frankfurt at the time, said today in Munich. “Hypo Alpe-Adria seemed like a bank with strong growth that had some issues including swap losses that were not adequately recognized.”