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.
LBBW’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. Neske’s nomination was first reported by Der Spiegel.
Neske, dubbed “the honest face of Deutsche Bank” 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.