Wiesbaden, 21 August 2018 – The Supervisory Board of Aareal Bank AG has appointed Marc Oliver Hess as a member of the Management Board, with effect from 1 October 2018. He will assume the function of Chief Financial Officer, which to date has been part of the role assumed by CEO Hermann J. Merkens, in addition to his other duties. Mr Hess will additionally assume responsibility for the Treasury division; going forward, he will thus also maintain relationships with debt investors. The Chairman of the Management Board will retain responsibility for Investor Relations, with its focus on equity investors.
Marc Oliver Hess, aged 44, was appointed Chief Financial Officer of Deutsche Postbank AG in 2007, a position he held until leaving the bank at the end of March 2018. Mr Hess first joined Deutsche Postbank – part of Deutsche Bank Group – in 2004, having previously worked at HVB Group and Deutsche Post.
Marija Korsch, Chairman of Aareal Bank's Supervisory Board, said: "We are delighted that we were able to win Marc Oliver Hess for our Bank – a very experienced and dynamic Chief Financial Officer who enjoys an excellent reputation within the sector and on the capital markets. We are convinced that his expertise will provide a key contribution to maintaining Aareal Bank Group's perfectly healthy financial basis over the long term – in a challenging environment. At the same time, the Supervisory Board would like to express its thanks to Hermann J. Merkens for having covered the dual roles of Chief Executive Officer and Chief Financial Officer throughout a phase of profound change and fundamental decisions for the future of our Company. Mr Merkens will thus be able to focus even more strongly upon the ongoing strategic development of Aareal Bank Group."
Hermann J. Merkens, Chairman of the Management Board, stated: "I very much look forward to working with Marc Oliver Hess, whose experience and professional profile are a perfect fit for the Bank. With his appointment, and the planned changes to the structure of CFO responsibilities, Aareal Bank's Management Board will be even more powerful – we are now in an excellent position to jointly master the challenges ahead."