Therefore, the Supervisory Board appointed Dr Christian Ricken as new Chief Executive Officer of Aareal Bank AG from 1 August 2024, subject to customary approvals by the supervisory authority. Jochen Klösges will remain in his position until his successor arrives, thus ensuring a smooth transition.
Currently, Dr Christian Ricken is LBBW’s Member of the Board of Managing Directors responsible for Treasury, Financial Institutions and Markets, Research, Business Development, International Business as well as Asset Management. Following an officer career with the German Federal Armed Forces, a degree in business administration at the University of the German Federal Armed Forces, Hamburg, and a doctorate, Dr Christian Ricken joined Deutsche Bank in 1996. After holding various positions including that of Head of Group Planning, he became CFO and COO for the private and corporate customer businesses. Dr Christian Ricken had also been a member of the Group Executive Committee of Deutsche Bank for several years before joining the Board of Managing Directors of LBBW in 2017. He was instrumental in developing LBBW’s capital markets business as well as further internationalising the bank and enhancing digitisation and product innovation at LBBW, particularly in the trading business.
Aareal Bank AG’s Chairman of the Supervisory Board, Jean Pierre Mustier, said: “I am very pleased to welcome Christian Ricken as a new leader for Aareal Bank Group. He brings a wealth of experience in capital markets, asset management and in leading international teams and operations which will be highly beneficial for Aareal Bank Group. I’d also like to thank Jochen Klösges on behalf of the entire Supervisory Board for his strong and successful leadership, also in very challenging times. Under his management, Aareal further strengthened its market position as a leading Commercial Real Estate financer and as the preferred banking partner and software provider for the German and European housing industries respectively. The Group is in a position of strength, has significantly increased its profitability, shows excellent liquidity and capital ratios and is ready to start a new chapter.”
Contact for the media:
Margarita Thiel
Telefon: +49 611 348 2306
Mobil: +49 171 206 9740
margarita.thiel(at)aareal-bank.com
Christian Feldbrügge
Telefon: +49 611 348 2280
Mobil: +49 171 866 7919
christian.feldbruegge(at)aareal-bank.com
Contact for investors:
Aareal Bank AG - Investor Relations
Telefon: +49 611 348 3009
ir(at)aareal-bank.com
