Surprising change in boss at the Wiesbaden real estate financier Aareal Bank: Christian Ricken, previously on the board of the Landesbank Baden-Württemberg (LBBW), will replace the previous CEO Jochen Klösges from August. The supervisory board appointed Ricken subject to the approval of the supervisory authority, as the institute announced. Klösges and the supervisory board came to the decision that the bank should move into “the next phase” after being taken over by financial investors. Apparently the separation from Klösges, whose contract would have run until 2026, was amicable. Ricken has been a board member of LBBW since 2017. According to Aareal, the 57-year-old was involved in the expansion of the capital market business and the internationalization of the bank. The business economist previously worked at Deutsche Bank, including as head of corporate planning. Anglo-Saxon financial investors took over Aareal, which is heavily involved in the struggling US commercial real estate market, last year.
New boss for Aareal Bank – Economy
