apoBank: Herbert Pfennig succeeding Günter Preuß as Spokesman of the Board of Directors

25.06.2009

Effective 1 July 2009, Herbert Pfennig (54) is taking over the position of Spokesman of the apoBank Board of Directors from Günter Preuß (64) who will then retire. Pfennig will be in charge of Corporate Planning/Treasury, Asset Management and Corporate Clients Sales as well as staff divisions. He was already appointed to the apoBank Board of Directors effective 1 April 2009. He was Deputy Chairman of the Board of Directors at Frankfurter Sparkasse before, after being a member of its Board of Directors since 2004. His professional background includes a successful career at Dresdner Bank with high-profile leading positions domestically and internationally.

Günter Preuß started his banking career at Bayerische Vereinsbank, holding a number of leading positions at the company's management. Effective 1 April 1995 he was appointed to the apoBank Board of Directors, and from 2004 as the Spokesman of the Board of Directors he played a major role in shaping one of apoBank's most significant growth phase in its more than 100-year history. apoBank developed successfully from the "bank for health professions" to the "bank in the health care sector", where as a specialist institute it defenses its uncontested market leadership. The bank has increased its business volume considerably and strengthened its position in the market. In the course of this development, apoBank increased its client base by 75 percent between 1995 and 2008 (2008: around 320,000), quadrupled its total assets (2008: EUR 41 billion) and increased profits accordingly: After a record profit of EUR 113 million in 2007, the bank reported a noteworthy result last year with a balance sheet profit of EUR 60 million and a further increased operating business in an extremely challenging environment which saw other banks post losses. The financial crisis is demonstrating that with its business model apoBank is both extremely stable and sound positioned. The bank launched into the year 2009 with a positive development in its core business.

The previous Chairman of the apoBank Supervisory Board Dr. Wilhelm Osing,: "On behalf of the Supervisory Board and the Board of Directors I would like to thank Günter Preuß for 14 years of exemplary commitment to our bank, which was also characterised by a special partner-like connection with the organisations representing the medical professions and other stakeholders in the health care sector. In his time he oversaw strong growth at apoBank, increasing its market share and raising its profitability. He gave important impetus for developing our institute into a bank in the health care sector with a unique profile and transforming our positioning into an actual business. And while doing so he never lost sight of our conservative standards concerning solidity and reliability.

In Herbert Pfennig we have gained an experienced and highly professional banking executive who we trust to further enhance the profile and positioning of apoBank. We wish Herbert Pfennig the best of luck and sustained success."