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KfW Board of Supervisory Directors appoints Bernd Loewen as the new Chief Financial and Risk Officer of KfW Bankengruppe
Frankfurt (ots) - Following the meeting of the Board of Supervisory Directors of KfW on 26 March 2009 the Board Chairman, Peer Steinbrück, Federal Minister of Finance, and the Deputy Chairman, Dr Karl-Theodor Freiherr zu Guttenberg, Federal Minister of Economics and Technology, make the following announcement:
The Board of Supervisory Directors of KfW today appointed Mr Bernd Loewen (43) as a member of the Managing Board. Loewen, who is currently on the Management Board of the Commerzbank subsidiary BRE Bank SA, Warsaw, Poland, where he is responsible for Treasury, Financial Institutions and Capital Market Operations, will be the Chief Financial and Risk Officer on the Managing Board of KfW from 1 July 2009.
KfW's Managing Board Chairman Dr Ulrich Schröder: "In Bernd Loewen we have been able to win a committed and experienced banker with an international profile for KfW. Now that we have filled the CRO/CFO position, KfW's Managing Board is complete again."
Loewen has been on the Management Board of Commerzbank's Polish subsidiary BRE Bank SA since 2005. Previously he managed Commerzbank's NYC-based subsidiary Commerz Capital Markets Corporation (2004-2005) and co-managed its Financial, Risk, Legal/Compliance, Human Resources, IT and Operations divisions (2002-2004). From 1996 to 2001 Loewen directed the Global Equities department at Commerzbank in Frankfurt am Main.and also worked in Equity Derivatives Trading and Corporate Development/Corporate Controlling. Prior to holding these positions he was employed as a tax accountant in a medium-sized accounting firm.