Wiesbaden, 9 November 2010 – Norbert Kickum, who, as a member of the Management Board, has been responsible for Aareal Bank's property financing business on international markets, has left the bank with effect from 31 October 2010. His departure is for purely personal reasons, by amicable and mutual consent. Aareal Bank will announce a successor shortly.
Norbert Kickum has been a member of Aareal Bank's Management Board since November 2005. During his tenure, he oversaw the strong expansion of the bank's business in Asia and North America, and in European countries outside Germany, within the framework of the three-continent strategy adopted by the Wiesbaden-based property specialists. Hans W. Reich, Chairman of the Supervisory Board of Aareal Bank, said: "It was with great regret that we learned of Norbert Kickum's departure. Not only was he successful in expediting the internationalisation of our business, but also – during a challenging market phase – he significantly contributed to Aareal Bank's ability to contain its risk exposure at clearly manageable levels. In this way, he helped the bank to master the crisis in far better shape than many of its peers. We would like to thank Mr Kickum for his contributions, and wish him every success for the future."
