Jürgen Fitschen, former co-CEO at Deutsche Bank is set to become chairman of the supervisory board at German property investment firm Vonovia.
Fitschen has been co-CEO at Deutsche alongside Anshu Jain between 2012 and 2016, before being replaced by current CEO John Cyran.
Subject to superivsory board approval, he is now set to join Vonovia in May 2018 following the next annual general meeting of Vonovia shareholders. He is set to replace Edgar Ernst, who took over the position of chairman of the supervisory board on an ad interim basis.
Fitschen, who is now 69 years old, will take on the position alongside his current roles as chairman of the supervisory board at Ceconomy AG and member of the board at Swiss firm Kühne & Nagel International. Fitschen started his career at Citibank in Hamburg and Frankfurt and joined the group’s supervisory board in 1983. He has been with Deutsche since 1987 and continues to act as senior adviser for the banking giant.
Headquartered in Bochum, Vonovia currently manages a real estate portfolio of €30. It is the result of a merger between real estate firms Deutsche Annington and Gagfah in 2015 and has been part of the DAX 30 index since the merger.