German lender Deutsche Hypo said on Tuesday that CEO Andreas Pohl has decided to retire next year and will not extend his contract which expires at the end of February 2018.
Pohl, aged 60, has been with the Nord/LB Group since 1979 and said he is retiring to have more time for his family.
'The decision to leave the German Hypo was very difficult for me. I love my job and have always enjoyed working for the Nord/LB [parent] group and Deutsche Hypo. The fact that Deutsche Hypo is doing so well today is the merit of all employees of our bank,' commented Pohl. 'The fact that I'm retiring now depends on my personal life planning. It's important for me to share more time and activities with my family in the future.'
Pohl was promoted head of Real Estate Banking in 2002 and in 2006 also took on the role of Global head of Commercial Real Estate Financing in the Nord/LB Group - a position he still holds today. In 2008, Pohl moved to Nord/LB's Deutsche Hypo unit and was responsible for the commercial real estate financing business.
He served as spokesman of the Management Board between 2014 and mid-2016, and has also been chairman of the Executive Board of Deutsche Hypo since July last year.
'We thank Andreas Pohl for his outstanding performance for the Nord/LB Group,' said Thomas S. Bürkle, chairman of the Supervisory Board of Deutsche Hypo and chairman of the Executive Board of Nord/LB. 'He has significantly built and shaped the commercial real estate financing of Nord/LB, one of the Group's most successful business units, over the past decades.'
The company said it will decide on a replacement on due course.
