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Aareal Bank reduces size of its Management Board

Following coordination with the supervisory authorities, the Supervisory Board of Aareal Bank AG resolved to reduce the size of the Management Board by merging two areas of responsibility.

  • Chief Risk Officer and Chief Lending Officer areas of responsibility to be merged
  • Management Board member Dagmar Knopek to retire

Wiesbaden, 17 May 2021 – Following coordination with the supervisory authorities, the Supervisory Board of Aareal Bank AG resolved to reduce the size of the Management Board by merging two areas of responsibility. Effective 1 June 2021, the Management Board areas of responsibility Chief Lending Officer and Chief Risk Officer will be merged to form the Chief Risk Office (CRO). Christiane Kunisch-Wolff, currently Chief Risk Officer, will be responsible for the newly-established area of responsibility. Dagmar Knopek, who has been a member of the Management Board since 2013, and who was responsible to date in her capacity as Chief Lending Officer for Credit Management, Operations and the Workout portfolio, will – at her own request – not be renewing her contract, which expires on 31 May 2021, and intends to retire. 

Aareal Bank had already communicated that the Supervisory Board has concerned itself with the size and composition of the Management Board. 

Marija Korsch, Chairman of the Supervisory Board, commented: “By merging two hitherto separate areas of responsibility, we are using the opportunity available to streamline the Management Board, and to optimise its composition in the wake of changed regulatory requirements.“ Ms Korsch went on to comment on Dagmar Knopek’s retirement: “On behalf of the entire Supervisory Board, I would like to already express our thanks to Dagmar Knopek for her outstanding commitment and valuable contributions to the development of Aareal Bank over the past years. Thanks to her strong expertise, she has ensured the high quality of our credit portfolio for many years – a safeguard which also benefited the Bank during the coronavirus pandemic. We wish Ms Knopek all the very best for the future.”

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