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Oldenburgische Landesbank names CEO, chairman

Oldenburgische Landesbank AG will have a new management and supervisory board leadership from Oct. 1 as incumbent Chairman Ernst Thomas Emde will step down.

Emde, who will leave at the end of September, will be replaced as chairman of the supervisory board by Axel Bartsch, currently CEO of Oldenburgische Landesbank, the German lender said Aug. 19.

Bartsch held the CEO role for just a year, following Oldenburgische Landesbank's merger with Bremer Kreditbank AG. A year after the deal, the timing is right for new management to step in and take measures to further strengthen the bank's future sustainability, he said in the official statement.

Bartsch himself will be succeeded by his current deputy, Wolfgang Klein.