RHJ’s Gerd Haeusler To Become CEO of BayernLB

MUNICH (Reuters) – Stricken German landesbank BayernLB was poised on Tuesday to name deputy chairman and private equity executive Gerd Haeusler as its new chief executive, a source close to the situation said.

Its supervisory board was meeting to select a replacement for Michael Kemmer, who left last month after a disastrous investment in Austrian bank Hypo Group Alpe Adria that has cost taxpayers 3.7 billion euros ($5.23 billion).

Haeusler is an executive at RHJ International (RHJI.BR) — which made unsuccessful bids for German carmaker Opel and bank IKB — as well as being deputy chairman of BayernLB, Germany’s second-biggest landesbank.

BayernLB declined to comment. The Sueddeutsche Zeitung first reported that Haeusler was to be named as new CEO. ($1=.7072 euros)

(Reporting by Christian Kraemer; Writing by Michael Shields; Editing by Greg Mahlich