Co-head of third-largest Volksbank leaves

Frankfurt The third largest Volksbank, Volksbank eG from Villingen-Schwenningen and Offenburg, loses its co-boss. Markus Dauber will leave the bank at the end of June at his own request, it said on Friday.

The bank, with total assets of eleven billion euros, was only recently formed from the merger of two cooperative banks from the Black Forest. The exploratory talks with another Volksbank, on the other hand, have only just been stopped.

Dauber joined the then Volksbank Offenburg as CEO in 2005. The 53-year-old is known beyond the sector because the bank is a payment service provider for merchants – and thus competes with large payment companies such as Adyen. Many other money houses hardly appear in the business anymore – or only returned late.
Dauber wanted to “take on new professional challenges,” said the bank. The Supervisory Board very much regrets the decision.

The bank manager told Handelsblatt: “You have to let go to free your hands for something new.”