Herbert Köhler, long-term CEO of Sparkasse Soest Zweckverbandssparkasse der Stadt Soest und der Gemeinden Bad, will retire Dec. 31 after 48 years with the German savings bank.
Köhler joined in 1969 and became an executive board member in 1987. He took over as CEO in 1997.
Before his retirement, Köhler oversaw merger talks between Sparkasse Soest and Sparkasse Werl Zweckverbandssparkasse der Stadt Werl und der Gemeinden Wickede. The two savings banks, based in the Western German state of North Rhine-Westphalia, will start operating as a joint institution from May 14, 2018.
From Jan. 1, 2018, three co-CEOs will be in charge of the management of the two savings banks, including Sparkasse Soest representatives Michael Supe and Ulrich Kleinetigges as well as Klaus Eickenbusch from Sparkasse Werl.
The management change was agreed as both Köhler and Sparkasse Werl CEO Joachim Gerenkamp are retiring in 2017.