At its regular meeting today, the Supervisory Board of Deutsche Postbank AG elected Dr. Frank Appel, Chairman of the Board of Management of Deutsche Post AG, as its Chairman. Appel succeeds Dr. Klaus Zumwinkel, who has resigned from his offices. The Supervisory Board underlined the achievements of Zumwinkel for Postbank, without which the company would today not be so successfully established as the largest German bank for private clients, and thanked him for his eight-year commitment.

With a view to the current question surrounding the consolidation of the German banking market, Appel said that Postbank had a unique platform at its disposal compared with the competition: “We will therefore play a self-confident role in the consolidation of the German banking sector.”