- Supervisory Board elects Jean Pierre Mustier as Chairman, Hermann Wagner secures orderly transition
- Wagner: “It has been a privilege chairing Aareal Bank’s Supervisory Board and I am pleased the Supervisory Board elected Jean Pierre Mustier as my successor. His wealth of experience will enormously benefit the Group.”
- Mustier: “I will be delighted to chair Aareal’s Supervisory Board and work with all its members and the management team to further contribute to the Group’s development.”
Wiesbaden, 10 August 2023 – In its first constituent meeting, Jean Pierre Mustier was elected as Chairman to the Supervisory Board. Jean Pierre Mustier’s appointment will be effective as soon as the approval by the ECB is granted. Until then Prof. Dr. Hermann Wagner will remain the Chairman of the Supervisory Board. He will continue to chair the Audit Committee until the AGM in 2024, thus securing an orderly transition within the Supervisory Board.
Prof. Dr Hermann Wagner said: “I announced earlier that I wouldn’t be available for another nomination, so for me this represents a natural point for transition. It has been a privilege chairing Aareal Bank and I am pleased the Supervisory Board elected Jean Pierre Mustier as my successor. His wealth of experience will enormously benefit the Group at a time the bank is celebrating its 100th anniversary, sees the arrival of new investors and further develops its ‘Next Level’ strategic agenda.”
Jean Pierre Mustier added: “I will be delighted to chair Aareal’s Supervisory Board and work with all its members and the management team to contribute to the Group’s development under its new ownership. In the name of the Supervisory Board, I’d also like to express my sincere thanks to Hermann Wagner for his dedicated work over the past eight years and for steering Aareal towards a new era.”
Jean Pierre Mustier is an experienced high-profile manager in the European banking industry and was Chairman of the European Banking Federation until 2021. From 2016 to 2021, he was CEO of Unicredit, prior to that he was Deputy General Manager at Unicredit, where he was responsible for the Corporate & Investment Banking (CIB) division. Mustier started his career at Société Générale, where he held various positions between 1987 and 2009, most recently in charge of Asset Management, Private Banking and Securities Services.
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