KfW

KfW IPEX-Bank: Management Board changes

Frankfurt am Main (ots) -

   - Christian K. Murach entering retirement
   - Andreas Ufer in new role on the Management Board
   - Claudia Schneider newly appointed to the Management Board 

A number of changes in personnel are taking place on the Management Board at KfW IPEX-Bank: The member of the Management Board responsible for the area "Markets II and Treasury" at KfW IPEX-Bank, Christian K. Murach, will begin his retirement at midnight on 16 March 2017. His successor as from 17 March 2017 will be Andreas Ufer, currently responsible at Management Board level for the area of "Risk". Claudia Schneider is appointed as the new Management Board member in charge of "Risk" as from 17 March 2017. Currently General Manager of KfW IPEX-Bank, she will simultaneously succeed Andreas Ufer in the role of CRO (Chief Risk Officer). The Management Board is completed by Klaus R. Michalak and Markus Scheer, who will remain in their current roles as CEO, CFO and member responsible for "Finance, Products and Corporate Affairs", and member of the Management Board in charge of the "Markets I" division, respectively.

"On behalf of the KfW Executive Board and of the Supervisory Board at KfW IPEX-Bank, I would like to thank Mr Murach for his decades of dedicated work in various roles at KfW. He particularly deserves our gratitude for playing a leading part in supporting and guiding the spin-off of KfW IPEX-Bank. Thanks to his involvement, the bank - as a specialist financier supporting the German and European economies - has established itself as a reliable player among its customers and their consortium partners," commented Dr Norbert Kloppenburg, a member of the Executive Board at KfW and Chairman of the Supervisory Board at KfW IPEX-Bank GmbH, adding: "Thanks to a forward-looking plan of succession, KfW IPEX-Bank will remain in the control of a Management Board that has vast market experience and will ensure continuity."

Apart from a four-year hiatus, Claudia Schneider has worked for KfW since 1997, holding various management roles, and she has been General Manager of KfW IPEX-Bank since 2015. Andreas Ufer has worked in export and project finance at KfW since 1988 and has served on the Management Board at KfW IPEX-Bank since 2015.

Christian K. Murach joined KfW in 1984 and, after working for several years in various roles in KfW Group, has played a crucial role in past years particularly in shaping the strategic orientation of export and project finance. From 2004 he was involved in preparing the spin-off of KfW IPEX-Bank as a member of the bank's management, and, following its spin-off as a legally independent subsidiary in 2008, has been serving on its Management Board. In this role, he has made vital contributions in helping the newly founded KfW IPEX-Bank establish itself in its markets, and has managed the departments assigned to him with great success.

Here you will find the members of the Management Board of KfW IPEX-Bank at a glance including printable portraits: http://ots.de/QxLIP

Contact:

KfW, Palmengartenstr. 5 - 9, 60325 Frankfurt
Kommunikation (KOM), Wolfram Schweickhardt,
Tel. +49 (0)69 7431 1778, Fax: +49 (0)69 7431 3266,
E-Mail: Wolfram.Schweickhardt@kfw.de, Internet: www.kfw.de



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