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US investment bank hires former CEO of German national rail

Europe
13.07.2017
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
New York (dpa) - The former chairman of Germany‘s national rail company will take a top job at a New York investment bank on August 1, the bank said Thursday.

Ruediger Grube will become chairman of investment banking in Germany with Lazard, the bank said in a news release.

Grube will join Ken Oliver Fritz and Eric Fellhauer, Lazard‘s two German heads of investment banking in managing the bank‘s top clients in Germany.

The bank is also active internationally and is looking to benefit from Grube‘s years of management experience and the 65-year-old‘s network of business contacts.

Grube served as chief operating officer of Deutsche Bahn from May 2009 until January 2017. His abrupt departure followed a dispute over the extension of his contract.

Previously he held senior management roles at Daimler, where he was appointed to the executive board in 2001. Prior to that, he worked for Deutsche Aerospace after beginning his career in 1989 at Messerschmitt-Boelkow-Blohm.

More recently Grube has served on numerous boards, including as chairman of the board of directors for EADS from 2005 to 2009. He currently serves on the board of Hamburger Hafen Logistik AG, a post he took just three weeks ago.

Lazard dates back to the 1840s when it was founded by members of an immigrant family from France.

It now has affiliates in 27 countries and about 194 billion dollars under management. It has had a presence in Germany since 1988 and recently prepared the restaurant chain Vapiano for public trading of its stock.

 

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