Aareal Bank has announced that Hermann Merkens has been re-appointed to another term of five years as chairman of the management board.
The supervisory board extended Merken's contact one year prior to the end of his current term of office. The ordinary re-appointment will be effective 2 April 2019, with his new term of office running until 1 April 2024.
Merkens has been a member of Aareal Bank's management board since 2003, and has served as CEO since 2015. He also holds the position of chief financial officer.
'Under the leadership of Hermann Merkens, Aareal Bank Group has enjoyed an excellent development over the past years,' said Marija Korsch, chair of the supervisory board. 'The bank continues to perform very well in its operating business. With its Aareal 2020 programme for the future, Aareal Bank is excellently positioned to continue its success story.'
The supervisory baord also renewed the contract of chief risk officer Christiane Kunisch-Wolff until 14 March 2024.