Aareal Bank Announces New CEO Dr. Christian Ricken, Jochen Klösges to Depart

Aareal Bank AG, headquartered in Wiesbaden, has disclosed a significant leadership change with Dr. Christian Ricken set to take over as the Chief Executive Officer starting 1 August 2024. This decision comes as Jochen Klösges and the Supervisory Board have amicably agreed for a leadership transition aligned with the completion of the full acquisition of Aareal Bank by Atlantic Bidco GmbH. Klösges is committed to ensuring a smooth handover to his successor.

Dr. Ricken, presently a Board Member at LBBW responsible for various sectors including Treasury and Asset Management, boasts a remarkable career with initial military service followed by a distinguished role in Deutsche Bank before transitioning to LBBW in 2017. His tenure at LBBW was marked by significant contributions to capital markets, internationalization, and digital innovation.

Jean Pierre Mustier, Chairman of Aareal Bank's Supervisory Board, expressed satisfaction over Ricken’s appointment, anticipating the expertise he brings in asset management and international markets to propel Aareal Bank Group forward. Mustier also extended gratitude to Klösges for his exemplary leadership, especially during challenging times, underlining his role in enhancing Aareal’s market position and profitability.