Changes in VZ Group’s Executive Board

28 June 2023

Tom Friess and Lorenz Heim have been part of VZ Group’s
Executive Board for more than 20 years. Friess heads the business in Germany, Heim
the group’s mortgage platform. At the end of September 2023, both will leave the
Executive Board at their own request in order to cut back a little. They will continue to
work for VZ Group in a changed function.

From 1 October 2023, the German business will be represented on the Executive Board
by Group CEO Giulio Vitarelli, while Marc Weber, CEO of VZ Depository Bank, will
assume the additional responsibility for the mortgage business. As a result, the Executive Board will be reduced from nine to seven members. The Board of Directors thanks
Tom Friess and Lorenz Heim for their many years of outstanding commitment to the
Executive Board and looks forward to cooperating with them in the future.

Source: VZ Vermögenszentrum
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