The Aareal Bank Annual General Meeting has approved the appointment of former CEO of Bankia José Sevilla as a new member of the board of directors of the German bank, according to the German entity in a statement. José Sevilla thus joins the board of Aareal Bank along with Henning Giesecke, Denis Hall, Barbara Knoflach, Hans-Hermann Lotter and Marika Lulay, as reported by ‘Expansión’.
The new directors replace Holger Giese, Friedrich Munsberg and Ulrich Theileis, who have left the council at their own request, as did Jana Brendel and Elisabeth Stheeman. In addition, Richard Peters has resigned from his position on the grounds of age. “We look forward to working with the new members, who will enhance the skills profile of the council of management with his proven and international experience,” said Aareal Bank’s Chairman of the Board, Hermann Wagner.
With a degree in Economics and Business Sciences from Cunef, José Sevilla began his career in investment banking at Merrill Lynch, later held positions of responsibility at BBVA as General Director of Risks and member of the management committee, as well as being a director of BBVA Bancomer, and in May 2012 he joined Bankia, where he served as CEO until the merger with CaixaBank took place in March 2021. Since last March, Sevilla is also an independent director of Renta 4 Banco.
Aareal Bank is a German financial institution dedicated to international real estate financing. Last June, Atlantic BidCo announced that it had acquired 83.8% of the shares of Aareal Bank after the end of the acceptance period of its voluntary takeover bid. The operation is expected to close in the fourth quarter of 2022 or the first quarter of 2023, after which Atlantic BidCo, a company indirectly controlled by funds managed and advised by Advent, Centerbridge and CPP Investments, will become the majority shareholder of Aareal Bank.