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32.95EUR +0.09%

Aareal Bank AG Announces Management Changes

06/27/2022 | 08:44am
Aareal Bank AG announced that Christiane Kunisch-Wolff, Chief Risk Officer at Aareal Bank, has asked the Supervisory Board to terminate her contract early, citing personal reasons and her desire to dedicate herself to new tasks. The Supervisory Board has approved her request: Ms. Kunisch-Wolff's mandate on the Management Board will terminate on 30 June 2022. Ms. Nina Babic will be appointed to the Management Board as Chief Risk Officer, succeeding Ms. Kunisch-Wolff, with effect from 01 July 2022. Christiane Kunisch-Wolff has served as Aareal Bank Group's Chief Risk Officer since March 2016. From the beginning, her responsibilities included the risk controlling, compliance, AML, information security and data protection functions. Regulatory affairs and credit management were added later, including Credit Management units, workout, valuation and research, as well as payments. Her mandate at Aareal Bank was her third management board position at a bank. Before joining Aareal Bank AG, Christiane Kunisch-Wolff was Chief Financial Officer at Westdeutsche Immobilienbank AG, a specialist bank for commercial property finance, from 2012 to 2016. She holds a graduate and a master's degree in business administration and worked for approximately twelve years at WestLB AG in various risk management positions. Nina Babic was appointed Senior General Manager on 1 June 2021. She is responsible for Aareal Bank's Credit Management, which assesses lending decisions involving new and existing business, together with the respective Sales units, and monitors loan and counterparty credit risks. Nina Babic served as Head of Corporate Affairs from 2016 to 2021, reporting to the CEO. During this time, she was responsible for the Management Board and Supervisory Board office, Legal and managing the project and loan portfolio. Prior to that, she worked for eight years in various positions at PwC. From 2014 she was an auditor for the financial statements of banks and in particular for assessing risks and control systems at credit institutions.
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