New CEO

Changing the Vibe at BHF Bank

bhf BHF-Bank
BHF in Frankfurt, Germany's financial capital.
  • Why it matters

    Why it matters

    Cost pressures in the banking sector make process efficiency and saving a never-ending job for managers.

  • Facts

    Facts

    • Mr. Häger began his career as a bank officer trainee with Deutsche Bank in Wuppertal, North Rhine-Westphalia.
    • Frankfurt-based BHF was formed by the merger of two banks dating back to the 1850s. During the 1970s and 1980s, it was one of Germany’s leading investment banks.
    • The private French bank Oddo won a takeover battle for BHF in 2015 for €725 million, or about $811 million.
  • Audio

    Audio

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Joachim Häger worked at Deutsche Bank for nearly three decades, most recently as head of private wealth management in Germany. But this year the 53-year-old decided to move to the executive board of the smaller BHF Bank.

It is no easy task: Mr. Häger must steer the Frankfurt-based bank to calmer waters after its takeover by the private French bank Oddo. In a bitter battle against a Chinese international conglomerate and investment company, Philippe Oddo finally clinched the deal for BHF in 2015 for €725 million, or $811 million.

Mr. Oddo is the fourth owner since 2004 at BHF, where a bitter leadership struggle has driven away important clients and employees. Now new management is attempting to spread an optimistic mood of change.

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