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First no to Commerzbank, now yes to LBBW


LBBW boss Rainer Neske
Image: dpa

There is also talk of news about the rapidly growing online broker Flatex, the boss of Hypo-Vereinsbank and UBS, about Bank of America and about the family office Finvia. Heard that …?

… Rainer Neske was not interested in a change to the Commerzbank Management Board in the summer? And that at the beginning of October the administrative board of Landesbank Baden-Württemberg (LBBW) extended Neske’s contract as CEO of LBBW by five years until summer 2026?

… the online broker Flatex will switch to the Prime Standard of the German Stock Exchange next Monday and will be included in the S-Dax in December thanks to its market value of 1.2 billion euros?

… Unicredit extended Michael Diederich’s contract as head of the German subsidiary Hypo-Vereinsbank (HVB) by three years until the end of 2024 and appointed Jürgen Kullnigg as HVB’s new head of risk? Kullnigg comes from Unicredit’s Austrian subsidiary Bank Austria and replaces Ljiljana Cortan.

… the outgoing UBS boss Sergio Ermotti will take over as head of Investindustrial Acquisition in London from January 1, 2021? Ermotti will lead one of the very popular Spac vehicles on Wall Street. Spacs raise money from investors through an IPO in order to buy an as yet unknown company.

… Fernando Vicario, a native of Pforzheim with a Spanish passport, will be the new CEO of the European holding company of Bank of America in Dublin?

… the family office Finvia of the former HQ Trust managing directors collected two billion euros in customer assets and hired 40 employees before the market launch, which is now officially taking place?

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