EQS-News

Supervisory Board appoints Dr Christian Ricken as new CEO – Jochen Klösges to leave Aareal Bank Group

EQS-News: Aareal Bank AG / Key word(s): Personnel Supervisory Board appoints Dr Christian Ricken as new CEO – Jochen Klösges to leave Aareal Bank Group (news with additional features) 09.04.2024 / 08:18 CET/CEST The issuer is solely responsible for the content of this announcement. Supervisory Board appoints Dr Christian Ricken as new CEO – Jochen Klösges to leave Aareal Bank Group

Wiesbaden, 9 April 2024 – Aareal Bank’s Chief Executive Officer, Jochen Klösges, and the Group’s Supervisory Board have jointly agreed that following the imminent completion of the full takeover of Aareal Bank by the Atlantic Bidco GmbH, the Group should start under new leadership its next phase of development. Therefore, the Supervisory Board appointed Dr Christian Ricken as new Chief Executive Officer of Aareal Bank AG from 1 August 2024, subject to customary approvals by the supervisory authority. Jochen Klösges will remain in his position until his successor arrives, thus ensuring a smooth transition.

Currently, Dr Christian Ricken is LBBW’s Member of the Board of Managing Directors responsible for Treasury, Financial Institutions and Markets, Research, Business Development, International Business as well as Asset Management. Following an officer career with the German Federal Armed Forces, a degree in business administration at the University of the German Federal Armed Forces, Hamburg, and a doctorate, Dr Christian Ricken joined Deutsche Bank in 1996. After holding various positions including that of Head of Group Planning, he became CFO and COO for the private and corporate customer businesses. Dr Christian Ricken had also been a member of the Group Executive Committee of Deutsche Bank for several years before joining the Board of Managing Directors of LBBW in 2017. He was instrumental in developing LBBW’s capital markets business as well as further internationalising the bank and enhancing digitisation and product innovation at LBBW, particularly in the trading business.