IKB woes force KfW board member to step down

Ingrid Matthaus-Maier has signalled her intention to retire in September from the board of KfW Bankengruppe, the Frankfurt-based federal German bank.

Matthaus-Maier, who was spokesperson of the board of managing directors, was expected to see out her contract until the end of June 2009, but has been under pressure since her bank's involvement in string of bailouts of IKB Deutsche Industriebank.

The first of the four bailouts was enacted on July 30, 2007, at which point KfW was at the head of a

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