The new appointments to the Boards were decided at the Dresdner Bank Luxembourg S.A. Supervisory Board meeting of 16 February 2009. Holger Boschke, Regional Director for Wealth Management at Commerzbank AG, was appointed Chairman of the Supervisory Board. He will be supported by Meinolf Wagener and Klaus Windheuser, both of Commerzbank AG, as well as Chlodwig Reuter, former Managing Director of Dresdner Bank Luxembourg S.A.
At the same time, Falk Fischer has been appointed CEO of Dresdner Bank Luxembourg S.A. Within the Board of Directors, Falk Fischer will take over responsibility for the business divisions of his predecessor, including Private Wealth Management, in particular. He is assuming the function of CEO from Benedikt Buhl, who effective 17 February 2009 will become the Speaker of the Board of Directors of Oldenburgische Landesbank.
Falk Fischer has been responsible for Wealth Management at Commerzbank International S.A. since August 2007 as a Managing Director and since December 2008 as the Chairman of this body. The appointment of Falk Fischer as CEO of Dresdner Bank Luxembourg S.A. is a significant step towards merger of the company units of both companies in Luxembourg. According to Holger Boschke, Chairman of the Supervisory Board: “The merger of these two German banks, both rich in tradition and with more than 40 years of business success in Luxembourg’s financial centre, will be the cornerstone of a leading European-style Wealth Management provider.”
Current plans are for the merger of the two legally independent subsidiaries Commerzbank International S.A. and Dresdner Bank Luxembourg S.A to take place towards the end of 2009.