Has been Chairman of the Board of Management of Deutsche Apotheker- und Ärztebank since September 1, 2017.
(Photo: apoBank)
Frankfurt The Apotheker- und Ärztebank (Apobank) abruptly loses its CEO. Ulrich Sommer is leaving the company this Friday, as Apobank announced at noon.
Sommer was a member of the board of directors of the cooperatively organized money house for ten years, and he has been at the top since 2017.
The 59-year-old’s contract would actually have run until next summer. The supervisory board has started the search for a successor. It is considered likely that the position will be filled externally.
With the summer withdrawal, the Apobank board of directors will be further restructured. In the spring there had already been a few changes and castling in the top committee. Finance and IT director Thomas Siekmann left the bank at the end of April. In the summer of 2020, the Board of Directors for Private Customers, Olaf Klose, and Apobank had already gone their separate ways.
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At the beginning of 2021, Jenny Friese switched from Commerzbank to Apobank, the 47-year-old is Head of Private Customers. The 48-year-old Alexander Müller also moved up to the board. The other two management positions were held by Chief Risk Officer Eckhard Lüdering and Chief Financial and IT Officer Holger Wessling.
Chairman of the Supervisory Board Frank Ulrich Montgomery thanked Sommer for “excellent work and excellent cooperation” and praised his “great work”. The manager has worked for Apobank almost continuously since 1987. Like Siekmann before, Sommer seems to be leaving the money house at his own request.
Apobank, headquartered in Düsseldorf, is the second largest cooperative bank in Germany with total assets of almost 66 billion euros – behind DZ Bank, the top institution of the Volks- and Raiffeisenbanken as well as other cooperative institutions. The financial institution had to accept a lot of criticism last year due to the glitchy start of its IT conversion.
The switch to the new IT service provider Avaloq from Whitsun 2020 was initially unsuccessful. In the course of the migration, transfers and other simple banking services, among other things, did not go smoothly.
Some of the IT problems lasted for weeks. Even after several months, some direct debits and return debits were not executed correctly. Customers react angrily.
More: Treasury is demanding almost 50 million euros from Apobank because of cum-ex deals