Legal corporate structure and executive bodies
During the period under review MLP successfully completed the acquisition of the independent financial broker ZSH and fully consolidated the company in February. This step enables MLP to targetedly strengthen its position among the medical client group. ZSH was founded in 1973 and provides services to wealthy private clients as well as to medical doctors and dentists and covers all aspects of provision and financial planning.
With effect from March 1, 2009 the Executive Board of MLP AG was enlarged to include the position of a Chief Operating Officer (COO). On February 16, 2009 the Supervisory Board appointed Ralf Schmid to this position as the new member of the Executive Board with a contract until December 31, 2012.
In mid September MLP successfully sold its business unit in Austria to Aragon AG. MLP will book the proceeds from this sale after closing – probably in the fourth quarter – to its discontinued operations.