WIESBADEN (dpa-AFX) - Aareal Bank AG (AAALF.PK) Monday announced certain changes to its management Board aiming to reduce its size.
Effective June 1, the Management Board areas of responsibility Chief Lending Officer and Chief Risk Officer will be merged to form the Chief Risk Office. Christiane Kunisch-Wolff, currently Chief Risk Officer, will be responsible for the newly-established area of responsibility.
Further, Dagmar Knopek, who was responsible in her capacity as Chief Lending Officer for Credit Management, Operations and the Workout portfolio, will not be renewing her contract that expires on May 31. She intends to retire.
Knopek has been a member of the Management Board since 2013.
Marija Korsch, Chairman of the Supervisory Board, said, 'By merging two hitherto separate areas of responsibility, we are using the opportunity available to streamline the Management Board, and to optimise its composition in the wake of changed regulatory requirements.'
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