Aareal Bank has appointed Marc Oliver Hess as chief financial officer (CFO), a role to date assumed by CEO Hermann J. Merkens, in addition to his other duties.
Hess, who was most recently CFO of Deutsche Postbank, will also assume responsibility for Aareal's treasury division. His other previous positions include spells at HVB Group and Deutsche Post.
'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,' commented Marija Korsch, chairman of Aareal Bank's supervisory board.
CEO Merkens added: '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.'