The Delegates Meeting elected Dr. Hermann Starnecker, Spokesman of the Board of Management of VR Bank Kaufbeuren-Ostallgäu eG, as a new member of MünchenerHyp’s Supervisory Board.

At the end of Delegates Meeting the previous Chairman of the Supervisory Board, Konrad Irtel, former Spokesman of the Board of Management of the Volksbank Raiffeisenbank Rosenheim-Chiemsee eG, and the Deputy Chairman, HSH Albrecht Prince of Oettingen-Spielberg stepped down as scheduled from the Supervisory Board due to age reasons. Wolfhard Binder thanked Konrad Irtel and HSH Albrecht Prince of Oettingen-Spielberg for their dedication and efforts during a period marked by extensive turmoil from which MünchenerHyp emerged even stronger than before.

In its subsequent constituent meeting the members of the Supervisory Board elected Wolfhard Binder, Chairman of the Board of Management of the Raiffeisen-Volksbank Ebersberg eG, as their new Chairman and Dr. Hermann Starnecker as his Deputy.

Due to MünchenerHyp’s successfully implemented growth strategy the number of employees has grown strongly in recent years and currently the Bank sustainably employs more than 500 persons. This means that the Bank is now subject to the terms of the One-Third Participation Act (Drittelbeteiligungsgesetzes). For this reason, the Delegates Meeting resolved that in the future MünchenerHyp’s Supervisory Board will consist of twelve members of which eight members of the Supervisory Board will be elected by the shareholders side and four members of the Supervisory Board will be elected by the employees. The four members representing the employees were elected on 12 July 2016.

On 14 March 2017 the Supervisory Board appointed Dr. Louis Hagen to be the Chairman of the Board of Management, he had previously served as the Spokesman for the Münchener Hypothekenbank’s Board of Management.

The terms of office of MünchenerHyp’s delegates ended during the year under review. The members of the Supervisory Board and the Board of Management thanked the delegates for their commitment and constructive collaboration. They actively supported the Bank’s course in recent years and contributed towards enabling the Bank to successfully master the major challenges posed by the markets and banking supervision. Eighty new delegates – previously 52 – and 15 new alternate delegates – previously 10 – were elected following the Delegates Meeting.