The Supervisory Board of the Deutsche Pfandbriefbank AG (pbb) resolved to nominate Dr Louis Hagen as a candidate for the Supervisory Board at the Annual General Meeting in May 2023 – subject to regulatory approval. It is intend that Dr Louis Hagen be voted Chairman of the Board when Dr Günther Bräunig steps down.
At the Annual General Meeting in 2021, Dr Günther Bräunig had already announced that, due to the length of time he has been on the Board, he would only remain Chairman of the Supervisory Board until the AGM in 2023 and he has therefore initiated the process for finding a successor. He has been a Member of the Supervisory Board at pbb since 2009 and has been its Chairman since 2014. Whilst he has been in office, pbb’s business model has been fundamentally redefined and the Bank has been listed on the stock market.
Since the IPO in 2015, pbb’s distribution ratio has been around 75%. As a result, the Bank has paid more than €700mn to its shareholders in dividends. Under his supervision, pbb’s core business has continually grown – even in turbulent times - and, with its risk-conservative approach, generates stable results. Furthermore, Dr Günther Bräunig has consistently driven the long-term new appointment of a stable and experienced Management Board team surrounding Andreas Arndt, as well as the competent additions and new members to the Bank’s Supervisory Board.
„I have accompanied pbb as Chairman of the Supervisory Board with great enthusiasm; we have been able to write a real success story,” said Dr Günther Bräunig. “In the future, the Supervisory Board will remain intensively and continuously involved in the implementation of the Bank’s strategic agenda, the focus of which is the growth of core business, ESG, digitalisation and new business area of Real Estate Investment Management. I am very pleased that we have been able to win Dr Louis Hagen as a candidate for the Supervisory Board and that he is willing to take over as Chairman. With him, pbb is in the best of hands to continue the successful course we have embarked upon.”
On 1st January 2023, Dr Louis Hagen passed on his position as Chairman of the Management Board at the Münchener Hypothekenbank eG to his successor. He joined the Management Board at the Münchener Hypothekenbank eG in 2009, he was nominated Spokesman of the Board in 2010 and became Chairman in 2016. From 2016 to 2022, he was President of the Verband deutscher Pfandbriefbanken (vdp). His career began in 1977 at the Bayerische Vereinsbank AG. He completed his university studies with a doctorate in law. Since then Dr Louis Hagen has worked in the field of mortgage banking and will bring this expertise with him to pbb.