DGAP-News

Jochen Klösges appointed new Chief Executive Officer of Aareal Bank AG

DGAP-News: Aareal Bank AG / Key word(s): Personnel Jochen Klösges appointed new Chief Executive Officer of Aareal Bank AG (news with additional features) 15.06.2021 / 11:37 The issuer is solely responsible for the content of this announcement. Jochen Klösges appointed new Chief Executive Officer of Aareal Bank AG

- Supervisory Board Chairman Marija Korsch: "Jochen Klösges has many years of experience in the banking business, especially in property financing, also showing entrepreneurial spirit, client orientation and strategic thinking."

- Management Board member Thomas Ortmanns will retire with effect from 30 September, at his own request, having successfully served on the Management Board for around one and a half decades.

Wiesbaden, 15 June 2021 - Today, the Supervisory Board of Aareal Bank AG has unanimously appointed Jochen Klösges, aged 56, new Chief Executive Officer of Aareal Bank AG. The former Management Board member of Commerzbank and Eurohypo is expected to assume office on 15 September 2021. Jochen Klösges succeeds Hermann J. Merkens, who resigned from his duties for medical reasons as at 30 April 2021. The appointment of Jochen Klösges is still subject to approval of the supervisory authority (ECB). Management Board members Marc Hess and Thomas Ortmanns will continue to perform the CEO's duties until Jochen Klösges assumes office.

The future CEO of Aareal Bank AG currently serves as CEO of E.R. Capital Holding GmbH & Cie. KG of Hamburg-based entrepreneur Erck Rickmers. In this function, he has been responsible for a broad range of business activities in the property, renewable energies, asset management, private equity and shipping areas over recent years. Jochen Klösges made a key contribution towards shifting the entrepreneurial focus from shipping to properties and renewable energies. From 2009 until 2013 he was a member of the Management Board of Commerzbank AG, where he held responsibility, among others, for the commercial property financing, asset management & leasing, ship finance and public-sector financing business segments which he restructured successfully. From 2007 until 2009, Jochen Klösges also held the position of Head of Strategy at Commerzbank. Prior to this, he worked at Eurohypo AG for five years, starting out as Head of Risk Management, before assuming the role of Management Board member in 2004. Later, he led the Supervisory Board of the property financer for Commerzbank.