WestLB Managing Board Strengthened
At its meeting on December 7, 2002, the WestLB AG Supervisory Board appointed Klaus-Michael Geiger to the Managing Board of WestLB AG with effect from January 1, 2003. He will essentially have responsibility at Board level for IT and Transaction Banking. Aged 40, Klaus-Michael Geiger served on the Managing Board of Dresdner Bank AG until the end of November. He can draw on many years of top management experience in the private bank sector. The appointment of Mr. Geiger marks a further step in the rejuvenation of the Board, in the course of which Dr. Manfred Puffer (39) and Robert Restani (45) were appointed at the beginning of the 2002 and on December 1, 2002 respectively.
Commenting on the appointment, Jürgen Sengera, Chairman of the Managing Board of WestLB AG, said: "We are pleased to have strengthened the Board through the appointment of Mr. Geiger. In 2002, we successfully completed the transformation into a private-law company and at the same time reduced our costs significantly ahead of schedule. We will maintain this course in 2003 in order to expand our market position in our core business segments. This will enable us to reach the targets we have set ourselves for 2004."
Klaus-Michael Geiger served at Dresdner Bank AG from 1985, holding various management positions including Head of International Auditing and Chief Auditor of Investment Banking/Asset Management. As Chief Operating Officer, he was subsequently responsible for central staff functions and information technology (IT). From late 2001 he was responsible on the Board of Dresdner Bank for IT and Transaction Banking.
Klaus-Michael Geiger is married with two children.