Supervisory Board of Hamburg Commercial Bank extends contracts for CEO and CRO early
Hamburg, December 4, 2020 - The Supervisory Board of Hamburg Commercial Bank AG (HCOB) extended the contracts of Chief Executive Officer (CEO) Stefan Ermisch (54) until the end of 2023 and of Chief Risk Officer (CRO) and Deputy CEO Ulrik Lackschewitz (52) until mid 2023 ahead of schedule in its meeting yesterday.
With these reappointments the Supervisory Board confirms the excellent work of Stefan Ermisch and Ulrik Lackschewitz in the past years and ensures continuity for the future of HCOB as a privatized commercial bank. With these contract extensions, both will remain in the top management of the bank even after the transformation is completed and beyond their planned entry into the BdB (Association of German Banks) at the beginning of 2022.
"Stefan Ermisch has steered Hamburg Commercial Bank very successfully through the transformation to date and has thus mastered one of the most demanding tasks in the German banking industry in an exemplary manner. I am convinced that with him we also have the right CEO on board for our future as a commercial bank and specialist financier,” said Juan R. Incíarte, Chairman of the Supervisory Board of Hamburg Commercial Bank. “I am also pleased that the long-standing CRO and Deputy CEO Ulrik Lackschewitz will continue to accompany the bank on its path – with this strong and stable management team, HCOB is ideally positioned for the challenges still ahead in the financial industry".
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