| BayernLB: Gerd Häusler named new CEO |
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27/01/2010 16:40 (737 Day 17:51 minutes ago) | |||||
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The FINANCIAL -- In its meeting on January 26, the BayernLB Board of Administration approved the appointment of Gerd Häusler (58) as CEO of BayernLB effective 15 April 2010. Mr Häusler has served as the Board of Administration’s deputy chairman since 1 August 2009.
Georg Fahrenschon, Bavarian Finance Minister and Chairman of the Board of Administration commented: “With the appointment of Gerd Häusler, BayernLB has gained the services of a highly experienced and respected national and international banker to be its new CEO. He is an eminent and respected individual who can bring experience in both the public and private banking sectors gained in Germany and abroad from a career spanning more than three decades. Thanks to his broad experience and know-how in many different areas of banking, Mr Häusler will be able to provide BayernLB with the necessary strategic vision to help it to success along the path of restructuring and new strategy that it has already started on. Moreover, he already possesses extensive insight into the Bank and its business due to his membership of the Board of Administration.”
Gerd Häusler’s first job was as an apprentice at the Deutsche Bank’s branch office in Darmstadt, Germany. After completing law studies in Frankfurt and Geneva, he began his career in 1978 as a trainee at the Deutsche Bundesbank. In 1994 he was appointed to the Deutsche Bundesbank Directorate and a member of the Central Bank Council. In 1996 Häusler joined the Dresdner Bank Board of Managing Directors where his responsibilities included investment banking. Starting in 1998 he also served as Chairman of Dresdner Kleinwort Benson in London. In this role, he merged the investment banking activities of Dresdner Bank and Kleinwort Benson. Starting in 2001 he became the first director of the newly created International Capitals Market Department of the International Monetary Fund (IMF) in Washington D.C. where he worked closely with Horst Köhler who was then the IMF Managing Director and is now President of the Federal Republic of Germany. He moved to the investment bank Lazard in 2006 where he was Vice Chairman for International Business and Managing Director in Paris and Frankfurt mainly acting as consultant for financial institutions. Since 1 October 2008 Häusler has been a manager and member of the board of financial investment firm RHJ International. In addition, Gerd Häusler is a member of The Group of Thirty located in Washington D.C., which has published a number of studies on the stability of the international financial system.
Gerd Häusler said: “I would like to thank the Board of Administration for the trust it has shown in me. I am very aware of the enormous challenges that lie before us. BayernLB’s Board of Administration and its owners asked me to take on this demanding task and I promise to work with all my abilities to carry it out. After all the turbulence of the past few months, BayernLB can and must now concentrate on its business and its prospects on the markets. In doing so I know I can count on the dedicated and committed efforts of the entire staff. I look forward to working with all of them and my colleagues on the Board of Management.”
Finance Minister Fahrenschon thanked Stefan Ermisch for his performance as interim CEO since mid-December 2009 saying, “Mr Ermisch’s dedicated efforts ensured that the Board of Management and the Bank were able to smoothly and successfully continue to perform. He has earned the gratitude and respect of the entire Board of Administration. We will continue to rely on Mr Ermisch’s expertise and knowledge as Deputy Chairman of the Board of Management in the future to assist in restructuring BayernLB.”
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