Rainer Neske, the former head of consumer banking at Deutsche Bank AG, is poised to become the next chief executive officer of state-owned regional lender Landesbank Baden-Wuerttemberg, according to people with knowledge of the matter.
LBBWâ€™s supervisory board will meet on Tuesday to decide whether to approve the 51-year-old as successor to Hans-Joerg Vetter, 63, according to the people, who asked not to be named before an announcement is made. Neske would start as a management board member mid-year before taking over as CEO later in 2016, said one of the people. Neskeâ€™s nomination was first reported by Der Spiegel.
Neske, dubbed â€œthe honest face of Deutsche Bankâ€ in fliers distributed by employees voicing their support for the departing board member last year, was replaced at the Frankfurt-based lender by Christian Sewing in a 2015 board reorganization.
He had been tipped as a possible candidate to replace Commerzbank AG CEO Martin Blessing, who is stepping down when his contract expires in October.