FMS Wertmanagement Service GmbH (FMS-SG) is a specialist financial servicing company with more than 300 employees across its offices in Unterschleissheim (near Munich), Dublin and New York. FMS-SG is a wholly owned subsidiary of FMS Wertmanagement AöR (FMS-WM), an entity established in 2010 as the German Federal Government's winding-up institution for the nationalised Hypo Real Estate Holding AG. Since October 2013, the deliverables of FMS-SG for its parent company include ongoing credit risk monitoring, maintaining the loan files, risk evaluations, the creation of various portfolio reports, the settlement of payment transactions as well as extensive preparatory work and analysis that will be used for decisions of FMS-WM related to the portfolio reduction.