The CEO of Varengold Bank AG, Yasin Sebastian Qureshi, and two of the executive board members, Mohammad Hans Dastmaltchi and Steffen Fix, will be leaving the executive board of the company in agreement with the bank as of July 31, 2015. Mr. Qureshi and Mr. Fix founded Varengold Bank together in 1995 and continuously developed the company shortly after together with Mr. Dastmaltchi, forming the current bank providing a full range of banking services. Mr. RA Hans J.M. Manteuffel, Prof. Peter Andree and StB Willi M-ller, all members of the supervisory board have announced that they will be stepping down from their posts as members of the supervisory board with effect from the end of the next general meeting on August 26, 2015.

The remaining executive board members, Dr. Bernhard Fuhrmann and Frank Otten, have extensive experience in national and international banking and will continue to drive forward the strategic development of the bank as a young deposit bank as before.