LBBW to replace chairman

by Richard Kilner

Story link: LBBW to replace chairman

At a meeting in Stuttgart Prime Minister Günther H. Oettinger, who chaired the event, announced that Landesbank Baden-Württemberg (LBBW) would not be renewing the contract of Dr Siegfried Jaschinski.

Dr Jaschinski is presently chairman of the Board of Managing Directors and is set to be succeeded by Hans-Jörg Vetter, chairman of the Board of Managing Directors of Landesbank Berlin.

The Prime Minister thanked Dr Jaschinski for his service to the bank, in a post he has occupied since early 2005.

During his time with the bank the Landesbanks of Saxony and Rheinland-Pfalz were integrated and Dr Jaschinski played an important role into transforming LBBW into a successful and viable firm.

The announcement comes shortly after LBBW recorded consolidated post-tax profits of €236m for the first quarter of 2009, a result that exceeded the bank’s own expectations.