The second largest German Landesbank, exchange your boss. The spout will not extended to the end of the contract of Johannes-Jörg Riegler, informed the Bank. Riegler had fallen out with the owners. He called for a doubling of his salary. the Meike Schreiber, Frankfurt Meike Schreiber
Meike Schreiber, born in 1975 in Karlsruhe, Germany, studied German literature, romance Philology and Economics in Lyon, Freiburg and Cologne and subsequently completed an internship at the Financial Times USA. There, she worked from 2003 until the end of the FTD in the year 2012 as an editor in the banking and Finance Department in Frankfurt. Then they became independent and founded the press office SchreiberDohms. For the SZ reported that since 2015 as a banking correspondent from the financial centre of Frankfurt.
The head of the second largest German Landesbank Bayern LB, Johannes-Jörg Riegler, consequences of leaving the company. Rieglers contract that expires at the end of February next year, will not be renewed, informed the state-owned credit institution on Wednesday. You have agreed “in good agreement”. According to reports, he had demanded a doubling of his salary and, therefore, in the case of the owners displeasure.
The Bayern-LB-in-chief has informed on Wednesday morning, the Committee for state budget and financial issues of the Bavarian Parliament about the decision.
Formally, Riegler, who is also the President of the Federal Association of Public banks (VÖB), nothing to reproach. The Bank is in accordance with the state rescue during the financial crisis comparatively well. Riegler, it has punishing according to insiders but especially with the savings banks, the 25 percent of the Bayern LB (the majority of the shares belong to the state).
according to insiders Riegler asked for a pay increase of around 750 000 to 1.5 million euros, which drew the displeasure of the owner. The separation of Riegler could be for the Bank, however, expensive. The 54-Year-old, a lifelong retirement pension of around 60 per cent of his last salary after the expiry of his contract. He takes a new Job, kostetet the control of the Bank until his retirement millions. In the environment of Riegler however, it is expected that he will be looking for a short break soon to a new task.
Rieglers successor is to be reported to be current Deputy Edgar Zoller. Until the official decision on a successor Zoller is back already to the top. “The Supervisory Board of the Bank in this transitional period, in the case of Edgar Zoller in very good hands,” said the Bayern LB.
