Tobias Vogel new head of Association of Foreign Banks
The Association of Foreign Banks in Germany (VAB) has appointed a new Chairman. Members elected Tobias Vogel, CEO of Frankfurt-based UBS Europe, as Chairman of the Board for a two-year term, the association announced on 14 June. He succeeds Burkhard Kübel-Sorger from J.P. Morgan SE, who will become Vice President and Chief Financial Officer of the European Bank for Reconstruction and Development on July 1.
Vogel commented that the focus of VAB's work is „to enhance the depth and breadth of the capital markets through reforms, establish a robust digital infrastructure, increase investments in sustainability, and streamline labour and tax laws.“
Jana Währisch, Chief Financial Officer of Morgan Stanley Europe, was elected as the new Vice Chairwoman. Guido Zöller, Group Country Head Germany & Austria of Société Générale, was confirmed in the role of Deputy Chairman. Frank Schönherr, Senior Country Officer Germany & Austria of Crédit Agricole Corporate and Investment Bank Germany, remains Treasurer.
Board expanded to 16 members
The board has been expanded to 16 members, doubling its size, „to better reflect the importance of foreign banks for Germany and the financial center, and to advocate for competitive regulation.“ Other board members include: Jürgen Baudisch (SEB AB Frankfurt Branch), Niklas Dieterich (SMBC Bank EU), Carsten Esbach (BNP Paribas S.A. Branch Germany), Thomas Falk (Bank Julius Bär Germany), Stefan Hafke (Citigroup Global Markets Europe), Eddy Henning (ING Germany), Michael Holmes (Goldman Sachs Bank Europe), Jessica Kaffren (J.P. Morgan SE), Christopher F. Porter (The Bank of New York Mellon, Frankfurt Branch), Peter Rosenberger (China Construction Bank Corporation, Frankfurt Branch), Nicolo Salsano (Standard Chartered Bank), and Gamze Yalçin (Isbank).
