Christian Ossig resigns as head of the banking association

Christian Ossig

Resigns as Chief Executive of the Association of Banks effective January 31, 2023.

(Photo: imago/Reiner Zensen)

Frankfurt The Federal Association of German Banks (BdB) must look for a new general manager. After a serious accident in the summer of 2022, incumbent Christian Ossig will not return to the private bank lobby organization and will resign from office on January 31.

“We on the Board of Management are extremely sorry that Christian Ossig is leaving the association, and at the same time we have great understanding for his decision,” said BdB President and Deutsche Bank boss Christian Sewing. “We wish him all the best for the future.”

Ossig said goodbye to the employees of the BdB on Monday in an emotional town hall meeting. “It was an honor and a great pleasure for me to speak for private banks in Germany and Europe,” said the 51-year-old.

Ossig has since recovered from his accident. However, he gave up his original plan to return to the BdB. Among other things, because of the large workload as general manager. First, the portal “financial scene” reported about it.

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The BdB board has started a process to regulate Ossig’s successor as quickly as possible, the BdB explained. “In the meantime, Henriette Peucker is leading the association on an interim basis as deputy general manager.”

Henrietta Peucker

Leads the banking association on an interim basis, but is also considered a candidate for the Ossig successor.

In the summer of 2022, Peucker switched from the communications agency FGS Global, formerly Hering Schuppener, to the banking association. Previously, she worked, among other things, as an investment banker for Citigroup and as head of the policy and regulation department for Deutsche Börse.

According to those involved, the 53-year-old has represented Ossig well in recent months. She should therefore be one of the candidates who are suitable for the Ossig successor.

Reformed deposit insurance bears Ossig’s signature

Ossig studied business administration and economics in Reutlingen, Reims and Bruges and received his doctorate in Cambridge. He then worked for JP Morgan, Rothschild, Bank of America and the Royal Bank of Scotland. In 2014 he moved to the World Bank Association IIF in Washington, two years later to the BdB in Berlin.

After the separation from his predecessor Michael Kemmer, Ossig initially formed a dual leadership there with Andreas Krautscheid. He has been the sole general manager since February 2022.

Christian Ossig (right), Andreas Krautscheid

A year ago, the banking association dissolved the dual leadership, now it is without a general manager.

(Photo: dpa)

The BdB represents the interests of more than 190 private banks and fintechs. Since big banks sometimes have other priorities than small private banks, there is always friction behind the scenes – most recently when the BdB deposit protection fund was restructured.

This reduced its scope of protection drastically after the bankruptcy of the Bremen bank Greensill, which was largely due to pressure from Deutsche Bank and Commerzbank. Some smaller banks, on the other hand, would have preferred to retain a higher level of protection.

Ossig was just as closely involved in the restructuring of the protection scheme as in the inclusion of the Hamburg Commercial Bank (HCOB) in the private deposit insurance. The former HSH Nordbank was the first state bank to be privatized in 2018.

More: Henriette Peucker has to lead the banking association through turbulent times.

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