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DZ Hyp appoints new chairman

German mortgage lender DZ Hyp AG appointed Uwe Fröhlich, former general manager of cooperative banking group DZ Bank AG, as its new supervisory board chairman from Aug. 1.

Fröhlich succeeds Uwe Berghaus, who will remain a member of the board, the bank said Aug. 10. DZ Hyp was created by the merger of DZ Bank units DG Hypothekenbank AG and Westfälische Landschaft Bodenkreditbank AG, or WL Bank, which was agreed earlier in the year.

DZ Bank said in July 2017 that Fröhlich would become its co-CEO alongside CFO Cornelius Riese from Jan. 1, 2019. They are replacing the retiring Wolfgang Kirsch.