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    ARL   DE0005408116

AAREAL BANK AG

(ARL)
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PRESS RELEASE: Jochen Kl÷sges appointed new Chief Executive Officer of Aareal Bank AG

06/15/2021 | 05:39am EDT
DGAP-News: Aareal Bank AG / Key word(s): Personnel 
Jochen Klösges appointed new Chief Executive Officer of Aareal Bank AG (news with additional features) 
2021-06-15 / 11:37 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Jochen Klösges appointed new Chief Executive Officer of Aareal Bank AG 
- Supervisory Board Chairman Marija Korsch: "Jochen Klösges has many years of experience in the banking business, 
especially in property financing, also showing entrepreneurial spirit, client orientation and strategic thinking." 
- Management Board member Thomas Ortmanns will retire with effect from 30 September, at his own request, having 
successfully served on the Management Board for around one and a half decades. 
Wiesbaden, 15 June 2021 - Today, the Supervisory Board of Aareal Bank AG has unanimously appointed Jochen Klösges, aged 
56, new Chief Executive Officer of Aareal Bank AG. The former Management Board member of Commerzbank and Eurohypo is 
expected to assume office on 15 September 2021. Jochen Klösges succeeds Hermann J. Merkens, who resigned from his 
duties for medical reasons as at 30 April 2021. The appointment of Jochen Klösges is still subject to approval of the 
supervisory authority (ECB). Management Board members Marc Hess and Thomas Ortmanns will continue to perform the CEO's 
duties until Jochen Klösges assumes office. 
The future CEO of Aareal Bank AG currently serves as CEO of E.R. Capital Holding GmbH & Cie. KG of Hamburg-based 
entrepreneur Erck Rickmers. In this function, he has been responsible for a broad range of business activities in the 
property, renewable energies, asset management, private equity and shipping areas over recent years. Jochen Klösges 
made a key contribution towards shifting the entrepreneurial focus from shipping to properties and renewable energies. 
From 2009 until 2013 he was a member of the Management Board of Commerzbank AG, where he held responsibility, among 
others, for the commercial property financing, asset management & leasing, ship finance and public-sector financing 
business segments which he restructured successfully. From 2007 until 2009, Jochen Klösges also held the position of 
Head of Strategy at Commerzbank. Prior to this, he worked at Eurohypo AG for five years, starting out as Head of Risk 
Management, before assuming the role of Management Board member in 2004. Later, he led the Supervisory Board of the 
property financer for Commerzbank. 
Marija Korsch, Chairman of the Supervisory Board of Aareal Bank AG, stated: "We are delighted that we were able to win 
Jochen Klösges as Chairman of the Management Board. He has a wide range of experience in all key areas of the property 
financing and banking business, especially in property financing, also showing entrepreneurial spirit, client 
orientation and strategic thinking. The Supervisory Board is convinced that, under his leadership, the Bank will 
continue its successful path in the future and that it will be able to provide the right strategic answers in times of 
fundamental change. Until Jochen Klösges assumes office, we know that management of Aareal Bank Group is in the best 
hands of our experienced and proven Management Board team, especially Marc Hess and Thomas Ortmanns. On behalf of the 
entire Supervisory Board, I would like to express my heartfelt thanks to them for their great work and willingness to 
take on additional responsibilities." 
Jochen Klösges explained: "Aareal Bank is one of the leading international institutions in its market segment that 
enjoys excellent reputation among its clients. The fact that it has the innovative, high-growth software company Aareon 
in its portfolio is an aspect which other institutions rightfully envy. I am very much looking forward to further 
expediting profitable growth in all segments of Aareal Bank Group, together with the management team." 
In view of the now foreseeable end of the substituting phase for the CEO, Thomas Ortmanns will, at his own request, 
retire from the Management Board early with effect from 30 September 2021, in accordance with his personal plans for 
the future. He has been a member of the Management Board since 2005 and is responsible for the Banking & Digital 
Solutions and Aareon segments. Following Thomas Ortmanns' early retirement, Jochen Klösges will take over his functions 
for the time being. The Supervisory Board will decide upon the future structure, size and distribution of tasks on the 
Management Board in due course and with the involvement of the entire Management Board. 
Marija Korsch commented on the planned early retirement of Thomas Ortmanns: "We respect the personal request by Thomas 
Ortmanns, to focus on other priorities in life going forward. He has contributed to shaping Aareal Bank Group through 
more than fifteen years of successful work on the Management Board. He was instrumental in enabling the Bank to 
consistently expand its position as a reliable banking partner to the housing industry - and also in ensuring that 
Aareon in particular has evolved into the true gem that it is today. On behalf of the entire Supervisory Board, I would 
like to express our sincere thanks to him and wish him all the best for his future." 
Following his retirement, Thomas Ortmanns will continue to be available to Aareal Bank Group in an advisory capacity 
for a transitional period. 
Contacts 
Margarita Thiel 
Phone: +49 611 348 2306 
Margarita.thiel@aareal-bank.com 
Christian Feldbrügge 
Phone: +49 611 348 2280 
Christian.Feldbruegge@aareal-bank.com 
About Aareal Bank Group 
Aareal Bank Group, headquartered in Wiesbaden, is a leading international property specialist. It provides smart 
financings, software products, and digital solutions for the property sector and related industries, and is present 
across three continents: Europe, North America and Asia/Pacific. Aareal Bank AG, whose shares are included in Deutsche 
Börse's SDAX index, is the Group's parent entity. It manages the various entities organised in the Group's business 
segments: Structured Property Financing, Banking & Digital Solutions, and Aareon. The Structured Property Financing 
segment encompasses all of Aareal Bank Group's property financing and funding activities. Here, the Bank supports its 
clients in making large-volume commercial property investments. The investment properties mostly comprise office 
buildings, hotels, shopping centres, logistics and residential property, as well as student apartments. In the Banking 
& Digital Solutions segment, Aareal Bank Group supports businesses from the housing, property management and energy 
industries as a digitalisation partner - combining extensive advisory services and product solutions with traditional 
corporate banking services and deposit-taking. Subsidiary Aareon, a leading consultancy and IT systems house for the 
European property industry and its partners in the digital age, forms the third business segment. Aareon offers 
reliable, pioneering solutions in the fields of consulting, software and services to optimise IT-supported business 
processes, and to extend business models. The Aareon Smart World digital platform links businesses from the housing 
industry and related sectors with customers, staff and business partners, as well as connecting technical devices in 
apartments and buildings. 
=---------------------------------------------------------------------------------------------------------------------- 
Additional features: 
Picture: https://eqs-cockpit.com/c/fncls.ssp?u=ac5fbf3816973a9495340d33fd49a4a6 
Subtitle: Jochen Klösges Porträt - Fotograf Sebastian Vollmert 
=---------------------------------------------------------------------------------------------------------------------- 
2021-06-15 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      Aareal Bank AG 
              Paulinenstr. 15 
              65189 Wiesbaden 
              Germany 
Phone:        +49 (0)611 348 - 0 
Fax:          +49 (0)611 348 - 2332 
E-mail:       aareal@aareal-bank.com 
Internet:     www.aareal-bank.com 
ISIN:         DE0005408116 
WKN:          540811 
Indices:      SDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Munich, Stuttgart, Tradegate Exchange; Stockholm 
EQS News ID:  1208120 
 
End of News   DGAP News Service 
=------------ 

1208120 2021-06-15

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1208120&application_name=news 
 

(END) Dow Jones Newswires

June 15, 2021 05:38 ET (09:38 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
AAREAL BANK AG -2.27% 20.7 Delayed Quote.8.34%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.31% 0.6217 Delayed Quote.-1.78%
BRITISH POUND / EURO (GBP/EUR) 0.19% 1.172 Delayed Quote.4.65%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.18% 0.672445 Delayed Quote.5.03%
DJ INDUSTRIAL -0.28% 34838.16 Delayed Quote.14.14%
INDIAN RUPEE / EURO (INR/EUR) -0.01% 0.011326 Delayed Quote.1.13%
SDAX -0.05% 16543.86 Delayed Quote.12.09%
US DOLLAR / EURO (USD/EUR) -0.13% 0.841255 Delayed Quote.2.93%
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Financials
Sales 2021 825 M 981 M 981 M
Net income 2021 72,4 M 86,0 M 86,0 M
Net Debt 2021 - - -
P/E ratio 2021 17,1x
Yield 2021 4,99%
Capitalization 1 268 M 1 507 M 1 507 M
Capi. / Sales 2021 1,54x
Capi. / Sales 2022 1,44x
Nbr of Employees 3 010
Free-Float 100,0%
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Number of Analysts 8
Last Close Price 21,18 €
Average target price 24,38 €
Spread / Average Target 15,1%
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Managers and Directors
Marc Oliver He▀ CFO, Head-Treasury, Finance & Controlling
Marija G. Korsch Chairman-Supervisory Board
Holger Spielberg Group Technology Officer
Richard Peters Vice Chairman-Supervisory Board
Sylvia Seignette Independent Member-Supervisory Board
Sector and Competitors