CEO of German state-owned lender BayernLB to quit - sources

Reuters

FRANKFURT (Reuters) - BayernLB (BAYLB.UL) chief executive Gerd Haeusler will quit his post at the German state-owned lender, three sources familiar with the matter told Reuters on Sunday.

Haeusler, whose contract with Munich-based BayernLB expires in 2015, may resign soon, two of the sources said on condition they not be identified because the matter is confidential.

Haeusler, a former Bundesbank central council member who subsequently held positions with Dresdner Bank and the International Monetary Fund, took up his position in April 2010.

It's unclear who will succeed him, the sources said.

Haeusler viewed his mission at BayernLB as accomplished following progress in restructuring the bank, two of the sources said.

"The decision (for him to leave) has been fixed a while ago," said one.

A spokesman at BayernLB declined to comment.

Haeusler's planned departure was reported earlier on Sunday by daily newspaper Passauer Neue Presse.

(Reporting by Andreas Kroener and Philipp Halstrick; Writing by Andreas Cremer; Editing by Mark Potter)

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