Lars Stoy announces departure from the site
Lars Stoy, a prominent figure in the German financial industry, has announced his departure from his role as Head of Private Bank Germany, effective immediately. His tenure at the firm, spanning 16 years, has been marked by significant contributions to the growth and development of the retail business, Postbank, and the business with wealthy and UHNW clients in Private Banking and Wealth Management.
During his time at the helm, Stoy successfully steered the private client business, both strategically and culturally, playing a pivotal role in the bank's rise to market leadership in Germany. Notably, he held various positions within the firm, including membership on the Management Board of Privat- und Firmenkundenbank AG and Deutsche Postbank AG. He also served as the CEO of Postbank Finanzberatung AG, the mobile sales unit of the organisation, and BHW Bausparkasse AG, the Group's building society arm.
The restructuring of the Private Bank and Wealth Management teams in Germany, announced in response to Stoy's departure, will be overseen by Claudio de Sanctis, a member of the Group Executive Committee. De Sanctis has expressed gratitude for Stoy's contributions and acknowledged the role he played in initiating and implementing changes that have strengthened the bank's position in the market.
In the interim, Dominik Hennen and Stefanie Rühl-Hoffmann will assume temporary roles. Hennen will take over Private Banking in Germany, while Rühl-Hoffmann, who currently manages the UHNW team in Germany, will on an interim basis assume responsibility for Wealth Management Germany. Hennen, Head of Personal Banking and the retail business in Germany, will now report directly to de Sanctis.
The successor for the Private Banking & Wealth Management Germany area will be announced in due course. In the meantime, the bank expects the changes initiated by Stoy to further strengthen its position as market leader in Germany.
Stoy's departure marks a significant moment in the bank's history, but his legacy of strategic vision and cultural transformation is expected to continue shaping its future growth.
- In his tenure, Lars Stoy not only expanded the bank's retail business but also contributed significantly to the growth of private banking and wealth management, focusing on business with wealthy clients.
- The restructuring of the Private Bank and Wealth Management teams, led by Claudio de Sanctis, will continuate the strategic changes initiated by Lars Stoy, aiming to reinforce the bank's position as a market leader in finance and business.
