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Supervisory Board
The Supervisory Board of Aareal Bank AG is composed of eight shareholder representatives and four employee representatives. The election of four shareholder representatives took place at the Annual General Meeting in 2022. Another shareholder representative was elected by the Annual General Meeting in 2023. Three additional shareholder representatives were elected at the Annual General Meeting on 3 May 2024. The term of five shareholder representatives will expire at the end of the Annual General Meeting in 2026 and that of three other shareholder representatives at the end of the Annual General Meeting in 2028. The term of the employee representatives will expire at the end of the Annual General Meeting in 2025. Therefore, the Supervisory Board has ensured a regular opportunity to refresh its composition, if necessary.
Jean Pierre Mustier (Chairman of the Supervisory Board)
| Date of birth: | 18 January 1961 |
| Nationality: | French |
| Residence: | Milan, Italy |
| First appointment: | 2013 |
| Terms served: | 1st term (2023 – 2026) |
| Committees: | Executive and Nomination Committee (Chairman) Remuneration Control Committee (Chairman) |
| Expertise: | Bank and financial services, strategic planning, M&A, regulation, risk management, digitalisation, ESG and accounting |
| Professional milestones | |
|---|---|
| Since 2024 | Chairman of the Supervisory Board, Aareal Bank AG, Wiesbaden, Germany |
| Since 2023 | Holds several other mandates |
| 2021 – 2023 | Co-CEO, Founder-Investor and Sponsor of three Special Purpose Acquisition Companies: Pegasus Europe Acquisition Company B.V., Pegasus Entrepreneur Acquisition Company Europe B.V., and Pegasus Asia |
| 2019 – 2021 | President of the European Banking Federation |
| 2016 – 2021 | CEO of UniCredit S.p.A |
| 2015 – 2016 | Partner of Tikehau Capital |
| 2011 – 2015 | Deputy General Manager, Head of Corporate & Investment Banking at UniCredit |
| 2009 – 2010 | pro bono work for Colony Capital, Société Générale, Tikehau Investment Management |
| 2008 – 2009 | Head of Asset Management, Private Banking and Securities Services at Société Générale |
| 2003 – 2008 | Head of Corporate & Investment Banking at Société Générale |
| 1987 – 2003 | Several positions, Société Générale |
| Education | |
|---|---|
| Bachelor’s degree in mathematics, École Polytechnique, Paris, France | |
| Master’s degree in mathematics, École des Mines, Paris, France | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| Atos SE, Bezons, France, chairman of the Board of Directors (Conseil d'administration) | |
José Sevilla Álvarez (Chairman of the Risk Committee)
| Date of birth: | 17 August 1964 |
| Nationality: | Spanish |
| Residence: | Madrid, Spain |
| First appointment: | 2022 |
| Terms served: | 1st term (2022 – 2026) |
| Committees: | Risk Committee (Chairman) Audit Committee (Deputy Chairman) Executive and Nomination Committee Technology and Innovation Committee |
| Expertise: | Banking, risk management, accounting, auditing, corporate governance, M&A, strategic planning |
| Professional milestones | |
|---|---|
| 2012-2021 | Chief Executive Officer of Bankia, Chair of its Risk Committee and Board Member at BFA Tenedora de Acciones SAU, Madrid, Spain |
| 1997-2009 | Member of the Management Committee of BBVA Group, Spain, and Board Member at BBVA Bancomer, BBVA, Mexico |
| 1995-1997 | Senior Equity Analyst of European banks, Merrill Lynch |
| 1989-1995 | Analyst of Spanish Banks and Head of the Equity Analysis department, FG Inversiones Bursátiles |
| 1988-1989 | Junior Auditor, Arthur Andersen |
| Education | |
|---|---|
| Degree in Economics and Business Administration, CUNEF Madrid, Spain | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| Unicaja Banco S.A., Spain, Chairman of the Board of Directors | |
Henning Giesecke
| Date of birth: | 6 May 1960 |
| Nationality: | German |
| Residence: | Zell, Munich district, Germany |
| First appointment: | 2022 |
| Terms served: | 1st term (2022 – 2026) |
| Committees: | Risk Committee Audit Committee Remuneration Control Committee |
| Expertise: | Risk management, banking business, real estate financing, corporate governance, strategic planning, accounting, auditing |
| Professional milestones | |
|---|---|
| Since 2009 | Holds several other mandates |
| 2006–2009 | Member of the Management Board and Group Chief Risk Officer, UniCredit S.p.A, Milano, Italy and UniCredit Bank AG, Munich, Germany |
| 2004–2006 | Chief Credit Risk Officer and Divisional Board Member, HypoVereinsbank AG, Munich, Germany |
| 2000–2004 | Group Head Restructuring and Workout, HypoVereinsbank AG, Munich, Germany |
| 1985–2000 | Different positions in Risk Management and Corporates, HypoVereinsbank AG, Munich, Germany |
| Education | |
|---|---|
| Business Administration (Diplom-Kaufmann), Ludwig-Maximilians-University, Munich, Germany | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| Erste Abwicklungsanstalt AöR, member of the Board of Directors | |
| Additional positions on governing bodies of other organisations | |
|---|---|
| Airbus Bank GmbH, member of Supervisory Board | |
Denis Hall (Chairman of the Audit Committee)
| Date of birth: | 9 November 1955 |
| Nationality: | British |
| Residence: | Chalfont St Giles, United Kingdom |
| First appointment: | 2022 |
| Terms served: | 2nd term (2024 – 2028) |
| Committees: | Audit Committee (Chairman) Risk Committee Technology and Innovation Committee |
| Expertise: | Banking, risk management, M&A, technology/IT security, ESG |
| Professional milestones | |
|---|---|
| Since 2016 | Holds several other mandates |
| 2007-2016 | Chief Risk Officer, Global Consumer Banking, GE Capital |
| 2001-2007 | Chief Risk Officer, Private and Business Clients (“PBC”), Deutsche Bank |
| 1985-2001 | Several positions, e.g. UK Diners business; Credit Officer for visa card businesses in Belgium, Spain, Germany and Greece; Credit Director for the German cards business; Business Manager for the operations company; Management Board Member for Risk, HR and Operations, Citibank |
| 1978-1985 | Several positions, Welbeck Finance |
| 1974-1978 | Junior Clerk, Barclays Bank, Northampton, United Kingdom |
| Education | |
|---|---|
| Banker’s examinations, Barclays Bank | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| Auxmoney Europe Holdings Ltd., Ireland, non-executive member of the Board of Directors | |
| Moneta Money Bank A.S., Prag, Czech Republic, member of the Supervisory Board | |
| Skipton Building Society, Skipton, United Kingdom, non-executive member of the Board of Directors | |
Petra Heinemann-Specht (Employee Representative)
| Date of birth: | 26 January 1968 |
| Nationality: | German |
| Residence: | Groß-Gerau district in Germany |
| First appointment: | 2018 |
| Terms served: | 2nd term (2020 - 2025) |
| Committees: | Risk Committee Audit Committee Remuneration Control Committee |
| Expertise: | Loan portfolio administration and management, including problem loans and intensive management, risk classification, legal and regulatory requirements for banking, settlement of securitisation transactions |
| Professional milestones | |
|---|---|
| Since 2022 | Chairwoman of the General Works Council at Aareal Bank AG, Wiesbaden, Germany |
| Since 2018 | Full-time Works Council member and member of the Economic Committee at Aareal Bank AG, Wiesbaden, Germany |
| 2018 – 2024 | Member of the Group Works Council at Aareal Bank Group, Wiesbaden, Germany |
| 2018 – 2024 | Member of the General Works Council at Aareal Bank AG, Wiesbaden, Germany |
| 1999 – 2018 | Various positions at Aareal Bank AG, including Credit Management and Loan Syndication and Securitisation, Wiesbaden, Germany |
| 1999 | Attorney at Joachim Lederle law firm |
| 1998 | Attorney and specialised commercial lawyer for Sparkasse Bodenwerder |
| Education | |
|---|---|
| Legal studies and traineeship (First and Second State Examination in law) | |
| Apprenticeship as a qualified banker | |
| Certified Mediator | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| None | |
Barbara Antonia Knoflach (Deputy Chairwoman of the Supervisory Board)
| Date of birth: | 23 May 1965 |
| Nationality: | Austrian |
| Residence: | Hofheim a.Ts., Germany |
| First appointment: | 2022 |
| Terms served: | 1st term (2022 – 2026) |
| Committees: | Executive and Nomination Committee (Deputy Chairwoman) Technology and Innovation Committee (Deputy Chairwoman) Risk Committee |
| Expertise: | Banking, strategic planning, real estate, IT/digitalisation, M&A, ESG |
| Professional milestones | |
|---|---|
| Since 2020 | Founder and Managing Director of LifeWorkSpace, a consulting and private investment company focused on innovative and sustainable strategies in the Real Estate industry |
| 2015-2020 | Global Head, BNP Paribas Real Estate Investment Management (REIM) and Deputy CEO, BNP Paribas Real Estate S.A., Paris, France |
| 2005-2015 | Chief Executive Officer (CEO), SEB Asset Management AG and Managing Director, SEB Investment GmbH, Frankfurt, Germany |
| 1999-2005 | Managing Director of SEB Immobilien-Investment GmbH (merged into SEB Investment GmbH) |
| 1994-1998 | Deputy Head Structured Finance, BfG Bank AG, Frankfurt, Germany |
| 1986-1993 | i.e. Analyst International Project Finance, Deutsche Bank AG, Frankfurt, Germany |
| Education | |
|---|---|
| Graduation in Economics with focus on Computer Science (Diploma Business Economist), University of Applied Sciences, Mainz, Germany | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| Landmarken AG, Aachen, Germany, member of the Supervisory Board | |
| Swiss Prime Site AG, Olten, Switzerland, member of the Board of Independent Directors | |
| CTP N.V., Amsterdam, Netherlands, chairwoman of the Board of Directors | |
| Lendlease Corporation Limited, Sydney, Australia, member of the Board of Directors | |
| Additional positions on governing bodies of other organisations | |
|---|---|
| ULI Germany Advisory Board, member | |
| FRICS, Royal Institution of Chartered Surveyors, member | |
| Zentraler Immobilien Ausschuss e.V. (ZIA), Berlin, Germany, member of the Presidium | |
| Urban Land Institute (ULI), trustee | |
| International Real Estate Business School (IREBS), Regensburg University, Regensburg, Germany, chairwoman of the Advisory Board | |
Hans-Hermann Lotter (Deputy Chairman of the Supervisory Board)
| Date of birth: | 29 December 1964 |
| Nationality: | German |
| Residence: | Como, Italy |
| First appointment: | 2022 |
| Terms served: | 2nd term (2024 – 2028) |
| Committees: | Remuneration Control Committee (Deputy Chairman) Executive and Nomination Committee Audit Committee |
| Expertise: | Banking, governance, international M&A and joint venture, strategic planning, auditing |
| Professional milestones | |
|---|---|
| Since 2009 | Holds several other mandates in investment companies of Advent International, especially in Atlantic BidCo GmbH, in the past i.e. in Supervisory Boards of Addiko Bank AG, Concardis Payment Group GmbH, GFKL Financial Services AG, as well as a consultant of Private-Equity-Investments, mergers and takeovers as well as restructuring |
| 2014-2015 | Member of the Board, responsible for Treasury, Legal and Corporate Development, interim management to support stabilisation of the bank, Gorenjska banka d.d., Kranj, Slovenia |
| 2006-2009 | Co-Head Mergers & Acquisitions, Head of Financial Institutions Group Germany, Austria, Switzerland, Rothschild GmbH, Frankfurt, Germany |
| 2003-2006 | Managing Director, Head of Financial Institutions and “Geschäftsführer”, Lazard & Co. GmbH, Frankfurt, Germany |
| 1992-2003 | Various positions at Deutsche Bank AG, Frankfurt, Germany, Singapore and London, England: Director, Global Corporate Finance – FIG; Managing Director, Corporate Development; Director, Head of Strategic Planning Asia Pacific; Divisional Director, Corporate Development |
| Education | |
|---|---|
| Master of Business Administration, University of Miami, Miami, Florida, USA | |
| Dipl.-Math. oec., Master (“Diplom”) degree in Mathematical Economics (“Wirtschaftsmathematik”), University of Ulm, Ulm, Germany | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| Hermes Germany GmbH, Hamburg, Germany, member of the Supervisory Board | |
| TK Elevator GmbH*, Dusseldorf/Essen, Germany, chairman of the Supersivory Board | |
| Vertical Topco S.à.r.l., Luxembourg, member of the Board of Directors *Subsidiary company of Vertical Topco S.à. r.l. | |
Marika Lulay (Chairwoman of the Technology and Innovation Committee)
| Date of birth: | 16 November 1962 |
| Nationality: | German |
| Residence: | Heppenheim, Germany |
| First appointment: | 2022 |
| Terms served: | 1st term (2022 – 2026) |
| Committees: | Technology and Innovation Committee (Chairman) Executive and Nomination Committee |
| Expertise: | Corporate governance, strategic planning, business and corporate development, M&A, digitalisation, technology, IT, ESG |
| Professional milestones | |
|---|---|
| 2024 | Co-Chief Executive Officer (Co-CEO), Executive Director, GFT Technologies SE, Stuttgart, Germany |
| 2017-2024 | Chief Executive Officer (CEO), Executive Director and Member of the Board of Directors (Verwaltungsrat), GFT Technologies SE, Stuttgart, Germany |
| 2015-2017 | Chief Operating Officer (COO), Executive Director and Member of the Board of Directors (Verwaltungsrat), GFT Technologies SE, Stuttgart, Germany |
| 2002-2015 | Chief Operating Officer (COO, Member of the Management Board, GFT Technologies SE, Stuttgart, Germany |
| 1996-2002 | Vice President Region Germany, Switzerland, Austria, Benelux and Scandinavia, Cambridge Technology Partners, Inc. Europa, Frankfurt, Germany |
| 1990-1996 | Head of Professional Services, Business Unit Central & Eastern Germany, Project Manager Software AG, Darmstadt, Germany |
| 1989-1990 | Management Consultant, Diebold Deutschland GmbH, Frankfurt, Germany |
| 1987-1989 | Co-Founder / Software Architect, BISTEC GmbH / BAUSOFT GmbH, Darmstadt, Germany |
| Education | |
|---|---|
| Computer Science, Darmstadt University of Applied Sciences (Diplom-Informatikerin) | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| EnBW AG, member of the Supervisory Board | |
| GFT Technologies, member of the Board of Directors | |
| Additional positions on governing bodies of other organisations | |
|---|---|
| LBBW AG, member of the Advisory Board | |
| Darmstadt University of Applied Sciences, deputy chairwoman of the University Council | |
| Promotionszentrum Angewandte Informatik (PZAI), member of the Scientific Adivisory Board | |
Klaus Novatius (Deputy Chairman of the Supervisory Board and Employee Representative)
| Date of birth: | 10 February 1967 |
| Nationality: | German |
| Residence: | Rhein-Lahn district in Germany |
| First appointment: | 2019 |
| Terms served: | 2nd term (2020 - 2025) |
| Committees: | Executive and Nomination Committee Remuneration Control Committee |
| Expertise: | Property financing and risk management systems of credit institutions |
| Professional milestones | |
|---|---|
| Since 2022 | Deputy Chairman of the General Works Council at Aareal Bank AG, Wiesbaden, Germany |
| Since 2018 | Chairman of the Works Council at Aareal Bank AG, Wiesbaden, Germany |
| 2018 - 2024 | Chairman of the Group Works Council at Aareal Bank Group, Wiesbaden, Germany |
| 2018 - 2022 | Chairman of the General Works Council at Aareal Bank AG, Wiesbaden, Germany |
| Since 2013 | Full-time Works Council member, Wiesbaden, Germany |
| Since 1983 | Aareal Bank AG and its legal predecessor in various Credit Management positions, Wiesbaden, Germany |
| Education | |
|---|---|
| Certified banking specialist (Diplom-Bankfachwirt) | |
| Vocational training as a banker | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| None | |
Maximilian Rinke
| Date of birth: | 21 March 1986 |
| Nationality: | German |
| Residence: | London, United Kingdom |
| First appointment: | 2024 |
| Terms served: | First term (2024 - 2028) |
| Committees: | Audit Committee Risk Committee Remuneration Control Committee |
| Expertise: | Bank and financial services, strategic planning, M&A, digitalisation, risk management in the credit business, ESG and accounting |
| Professional milestones | |
|---|---|
| Since 2016 | Managing Director of MR Ventures UG, a private investment vehicle, Munich, Germany |
| Since 2012 | Various positions in the Private Equity team of Centerbridge Partners L.P. with a focus on investments in the financial sector in Europe, currently as Senior Managing Director, London, United Kingdom. As part of these activities, various mandates in investment companies of Centerbridge Partners, currently as non-executive member of the Board of Directors of Auxmoney Europe Holding Ltd., previously as Board Observer of Aktua Soluciones Financieras S.L. |
| 2008 – 2012 | Bank of America Merrill Lynch, Associate in Investment Banking, Financial Institutions Groups, with a focus on M&A transactions, equity borrowing, restructurings of regulatory capital for European financial institutions, London, United Kingdom |
| Education | |
|---|---|
| Bachelor of Science in Business Administration, WHU – Otto Beisheim School of Management, Vallendar, Germany. | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| Auxmoney Europe Holding Ltd, Ireland, Non-Executive member of the Board of Directors | |
Nicole Schäfer (Employee Representative)
| Date of Birth | 04 October 1969 |
| Nationality: | German |
| Residence: | Rhine-Lahn district, Germany |
| Initial appointment: | 2024 |
| Current term: | First term (2024 – 2025) |
| Committee memberships: | Technology and Innovation Committee |
| Expertise: | Digitalisation (with a particular focus on SAP system) |
| Career milestones | |
|---|---|
| Since 2023 | Aareal Bank Wiesbaden, SAP Service Manager and SAP Emergency Manager |
| 2019 – 2023 | DG Nexolution, Wiesbaden, SAP BW/BI/BO Administrator and SAP Service Manager SAP Basis Operations Administrator |
| 2016 – 2019 | Various activities, sales |
| 2000 – 2015 | SOKA-Bau, Wiesbaden, Senior Application Administrator SAP BW Certification as SAP Consultant SAP NetWeaver 2004s |
| 1998 – 2000 | SOKA-Bau, Wiesbaden, HOST Application Administrator |
| 1991 – 1998 | SOKA-Bau, Office communication and correspondence |
| Education | |
|---|---|
| Professional Training as a dental assistant, Dental Practice Tarkel, Weisel | |
| Re-training as an IT specialist, SOKA-Bau, Wiesbaden | |
| Other memberships of comparable statutory domestic or foreign supervisory bodies pursuant to section 125 (1) sentence 5 of the AktG. | |
|---|---|
| None | |
Markus Zywitza (Employee Representative)
| Date of birth: | 26 September 1972 |
| Nationality: | German |
| Residence: | Wiesbaden, Germany |
| First appointment: | 2024 |
| Terms served: | First term (2024 – 2025) |
| Committees: | Technology and Innovation Committee |
| Expertise: | Digitalisation, IT-Security |
| Professional milestones | |
|---|---|
| Since 2000 | Aareal Bank AG, Wiesbaden, IT |
| Since 2018 | Aareal Bank AG, Member of the Works Council |
| Education | |
|---|---|
| Degree in Computer Science, University of Applied Sciences Wiesbaden | |
| Memberships in other statutory supervisory boards or similar domestic and international governing bodies according to Section 125 (1) Sentence 5 of the German Public Limited Companies Act | |
|---|---|
| None | |
| Supervisory Board Affiliation | |
| Name | Member of the supervisory board since |
| Jean Pierre Mustier (Chairman of the Supervisory Board ) | 2023 |
| José Sevilla Álvarez | 2022 |
| Henning Giesecke | 2022 |
| Denis Hall | 2022 |
| Petra Heinemann-Specht | 2018 |
| Barbara Antonia Knoflach | 2022 |
| Hans-Hermann A. Lotter | 2022 |
| Marika Lulay | 2022 |
| Klaus Novatius | 2019 |
| Maximilan Rinke | 2024 |
| Nicole Schäfer | 2024 |
| Markus Zywitza | 2024 |
