Ахим Дюбель

Компания: Украинская национальная ипотечная ассоциация Телефон: +380 44 230-2225, 230-29-01 Email:

Ахим Дюбель

Business Profile Hans-Joachim (Achim) Dubel 1/2007 International Financial Services and Policy Consultant

Business Areas

Financial sector development and access strategy, financial sector regulation, taxation/subsidies, institution-building, cross-border market entry. Special focus on residential and commercial mortgage finance.

Housing sector development and access strategy, legal and regulatory development, taxation/subsidy design and institution-building.

Professional networks and associations

Founder and General Manger of Finpolconsult.de, Berlinbased consulting firm and think tank in the area of financial sector development. http://www.finpolconsult.de

Consultant to the housing finance business group of the World Bank, Washington, D.C.. (fmr staff member) and to the International Finance Corporation (IFC).

Association with Mercer Oliver Wyman’s London-based financial sector practice on business consultancy projects in Europe.

Association with Hypoport AG, Europe’s leading retail mortgage B2B platform and Germany’s leading rental housing finance provider.

Member of Network group banks, Bundeszentrale Verbraucherschutz (federal consumer protection association).

Selected Projects and Publications

Ongoing Housing policy roadmap, including assessment of the National Housing Program, for the Arab Republic of Egypt, for USAID/Urban Institute.

Comparative study on the impact of housing finance on economic and social development in emerging markets, for IFC.

Development of hedonic house price index for Germany based on Hypoport’s HPX transaction-based house price database, for BBR/Hypoport AG.

2007 closed Study on European mortgage distribution with Mercer Oliver Wyman (clients: EFMA, EMF).

Study on US mortgage credit standards and conclusions for mortgage sector development and regulation in Germany, for Verband privater Bausparkassen.

Evaluation of international high-LTV mortgage markets, with the goal to benchmark KfW’s home owner credit program, for Kreditanstalt fur Wiederaufbau (KfW).

Regional evaluation of the first transactions-based German House Price Index (HPX) for Bundesanstalt fur Bauwesen und Raumordnung (BBR); further development of HPX for data issuer Hypoport AG.

Member of Mortgage Funding Expert Group (MFEG) producing a report on European mortgage market integration, DG Markt/EU Commission.

Assignment on a KfW Symposium on low-income housing finance in Frankfurt in November 2006, incl. technical paper on global emerging market housing finance regulations.

Assignment to develop a Mortgage Code of Ethics for the Russian Federation; for IFC.

Member of a World Bank mission team to review Poland’s housing policy menu, especially rental housing policy and currently proposed public-private partnership schemes.

Member of a team developing primary and secondary mortgage market legislation and institution-building in Turkey (with Michael Lea, Stephen Butler); for Capital Markets Board of Turkey.

Expert assignment by the European Central Bank on a Roundtable on mortgage finance policy issues, June 2006.

Study on an international comparison of costs and service efficiency of housing transactions in Germany

(with empirica); for Bundesamt fur Bauwesen und Raumordnung (in German only)

Assignment to develop primary mortgage market legislation (consumer protection) for Ukraine (with Technitas, Interprojects); for EU Commission (EU-Tacis project).

2005 Team member for a study on the efficiency of European mortgage markets (with LondonEconomics); for Directorate General Markt of the EU Commission.

Review of the rent control regime in Latvia and preparation of housing policy recommendations; for the Eastern Europe and Central Asia region of the World Bank.

Review of mortgage prepayment (call) risk protection features practiced by European lenders; for Verband deutscher Hypothekenbanken.

Study on European high-LTV and subprime mortgage markets (with Matthew Sebag-Montefiori, Pete Bridge; Mercer Oliver Wyman); for Mortgage Insurance Trade Association.

2004 Coauthorship of the World Bank global housing finance strategy (with Loic Chiquier, Michael Lea et al); for Financial Sector Development Department of the World Bank.

Introductory study on rental housing policies in transition countries covering Russia, Romania, Armenia, Serbia, Poland and Lithuania (with Jan Brzeski, Ellen Hamilton);

for Eastern Europe and Central Asia region of the World Bank.

Consulting assignment on housing finance liberalization (legal/regulatory reform) and contractual savings for housing reform in the Islamic Republic of Iran (with Friedemann Roy); for National Habitat Committee and Central Bank of Iran (World Bank loan).

2003 Review of the new mortgage-related securities legislation passed in Russia; for Kreditanstalt fur Wiederaufbau.

Book publication on housing and mortgage market policies in the Visegrad countries (Czech Republic, Hungary, Poland and Slovakia); for Center of Legal Competence Vienna.

Study on the financial integration of European mortgage markets (with Simon Low and Matthew Sebag-Montefiori, Mercer Oliver Wyman); for European Mortgage Federation.

Analysis of the financial sector, fiscal and housing sector aspects of contract savings for housing (CSH) in Transition Countries – the Cases of Czech Republic and Slovakia; for Financial Sector Development Department of the World Bank.

Study on the role of savings banks in the economy with global empirical coverage. Case studies include Germany, France, Spain, Hungary (with Ulrich Pfeiffer); for European Savings Banks Group. Not published.

2002 Guest edit of Housing Finance International, special issue on Basel II and the mortgage industry; for International Union of Housing Finance Institutions.

Policy paper on size and effects of public credit guarantees in housing finance – the Example of the US Government-sponsored Enterprises Fannie Mae and Freddie Mac (in German); for Verband deutscher Hypothekenbanken.

2001 Analysis of potential risks of commercial real-estate lending for German mortgage banks in the US (in German); for Verband deutscher Hypothekenbanken.

Member of consultant team to draft new mortgage bond legislation and amendments to other financial sector legislations in the Republic of Slovenia; technical and policy paper (with Peter Merstallinger and Steve Butler); for Ministry of Finance of Slovenia.

2000 Member of World Bank financial sector review team for Brazil (led by Stijn Claessens and Stefan Alber); technical (regulatory, financial, fiscal) and policy paper on the Brazilian housing finance system (with Baralides Alberdi and Vitor Serra); for the Latin America and Caribbean region of the World Bank.

Fiscal analysis of the housing policy reform program as part of the public expenditure review for the Czech Republic; for the Eastern Europe and Central Asia region of the World Bank.

1999 Preparation of a housing finance technical assistance loan for the reform of public financial institutions and pension funds in the Philippines (with Tom Glaessner, MacDonald Benjamin, Joselito Gallardo); for the East Asia and Pacific region of the World Bank.

National housing policy paper for Armenia -review of basic principles, short-and mid-term strategies(with Lev Freinkman); for the Eastern Europe and Central Asia region of the World Bank.

Global policy paper on separating homeownership subsidies from finance, reviewing traditional mortgage market policies, recent reform experiences and lessons for subsidy reform; for the World Bank’s Land and Real Estate Initiative (LARI Research Papers, Background Series # 14).

1998 Policy paper on European and US best practice of mortgage insurance and conclusions for Germany (in German); for the Federal Ministry of Construction.

Comparative empirical study on micro-and macroeconomic consequences of residential mortgage prepayment, with evidence from the Denmark, France, Germany, the United Kingdom and the United States (with Michael Lea); for Verband deutscher Hypothekenbanken.

1997 Review of and policy paper on the structure of the European mortgage credit sector and consequences of a transfer of the EU Consumer Credit Directive to mortgage lending (with Reinhard Welter und Michael Lea); for Directorate-General XXIV of the EU Commission.

Review of the principles and practice of the privatization of real estate in East Germany during transition; for the Korean Research Institute for Human Settlements.

1996 Member of a government commission for the review of the Rent Control Act of South Africa (with Saaby Mthwecu, Mary Tomlinson, Ulrich Pfeiffer); for Ministry of Housing of the Republic of South Africa financed by Deutsche Gesellschaft fur Technische Zusammenarbeit.

Preparation of a technical assistance loan for the development of a housing finance system in West Bank and Gaza (with Larry Hannah and Michael Lea); for the Middle East and North Africa region of the World Bank.

Team leader for the project glossary on housing finance for transition countries; for UN-ECE.

1995 Policy paper on risk-based capital requirements and commercial mortgage credit risk in Europe and the US (with Michael Lea, Ulrich Pfeiffer); for Verband deutscher Hypothekenbanken.

Review of legal, regulatory and fiscal conditions for private rental housing finance in the European Union; for Directorate-General V of the EU Commission.

Preparation of a financial assistance program for the housing sector (with Roland Ziss and Ulrich Pfeiffer); for Housing Bank of Eritrea and Kreditanstalt fuer Wiederaufbau

1994 Evaluation of the German Income and Expenditure Survey (EVS) regarding the savings and investment behavior of private households in Germany (with Ulrich Pfeiffer, Harald Simons and Reiner Braun); multi-client study for several banks and federal ministries.

Various projects concerning market and cost-benefit analysis for real estate investment projects after

reunification in Berlin and East Germany; inter alia for Stanhope Properties, Nomura, Daimler-Benz.

1993 Policy paper on a macroeconomic development strategy for East Germany including individual strategy papers for Saxony, Saxony-Anhalt, Thuringia and Mecklenburg- Pomerania (with Ulrich Pfeiffer); for Friedrich-Ebert Stiftung.

1991 Post-graduate thesis on industrial adjustment processes under external economic liberalization in Venezuela (German Development Institute, Ashoff).

1986 Diploma thesis on monetary policy and relative price risk under high inflation -Argentine evidence 1960-1986 (University of Bonn, v. Hagen)

Professional Experience

2004 bis Founder and general manager of Finpolconsult.de.

2001 – 2004 Independent consultant, based in the former East Berlin. Focus: research, policy and strategy consulting to public and private sector clients in finance.

1998 – 2000 Staff of the Financial Sector Development Department (initially Capital Market Development Department) of the World Bank, Washington DC. Last position held: Senior Financial Economist. Focus: advice to the Bank’s regions and to governments of developing countries in the areas of financial sector and capital markets; specialist for mortgage finance.

1991 – 1998 Staff of empirica, a German economic think-tank based in Bonn und Berlin. Last position held: Senior Economist. Focus: consulting to international organizations, governments and private sector in the area of housing, infrastructure finance, regional economic development, evaluation of large investment projects.

Academic Curriculum

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1989 – 1990 25German Development Institute post graduate course in development economics, Berlin.

1982 – 1989 Diploma degree in economics from the University of Bonn -studies interrupted by stage in Buenos Aires/ Argentina

(1986, diploma thesis) and military service (1983-1984). Graduation with excellence, study focus on: Monetary Policy, Economic Policy (Neumann, v.Hagen), Economic Theory (Hildenbrand), Econometrics (Schonfeld) and Business Administration (Albach).

Language Skills and International Work Experience

German, English, Spanish (fluent); French.

International work experience in Latin America (Argentina, Brazil, Mexico, Venezuela), Transition Countries (Armenia, Czech Republic, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia, Romania, Russia), European Union (other than transition countries), U.S. & Canada, Asia (Philippines, Korea), Turkey, Middle East and Africa (West Bank & Gaza, Egypt, Eritrea, Iran, South Africa).

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