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Metzler-Partner Wiesheu elected new President of Frankfurt Main Finance

The Executive Committee of Frankfurt Main Finance elected Gerhard Wiesheu as President of the financial centre initiative for the next two years.

Mr Wiesheu, aged 58, succeeds Dr Lutz Raettig who, after twelve successful years in office, is resigning from the management of Frankfurt Main Finance and becoming Honorary President.

Dr Thomas Book (Deutsche Börse AG), Dr Ingo Wiedemeier (Frankfurter Sparkasse) and Adnan Shaikh (mayor of Eschborn) were newly elected to the Board of Directors. Tarek Al-Wazir (Hessian Minister for Economic Affairs, Energy, Transport and Housing), Uwe Becker (Mayor and Treasurer of the City of Frankfurt), Thomas Groß (Helaba), Nick Jue (ING-DiBa), Frank Kuhnke (Deutsche Bank), Dr Cornelius Riese (DZ Bank) and Eva Wunsch-Weber (Frankfurter Volksbank) were confirmed in office as members of the Board of Directors. In his capacity as Chairman of the society Gesellschaft für Risikomanagement und Regulierung e.V., Gerold Grasshoff (Boston Consulting Group) is a member of the Board of Directors of Frankfurt Main Finance.

Thanks to the tireless efforts of Dr Lutz Raettig, it has been possible in recent years to turn Brexit into a resounding success story for Frankfurt, the Rhine-Main region and the federal state of Hesse. Some 30 international big banks will in future operate their European headquarters from Frankfurt, including four of the five largest Japanese banks and two of the four largest British Banks.

Gerhard Wiesheu has worked for Metzler since 2001. In 2015, he was appointed to the group of personally liable partners of Bankhaus B. Metzler seel. Sohn & Co. KGaA and in 2012 to the Management Board of B. Metzler seel. Sohn & Co. Holding AG. Mr Wiesheu has been a member of the partner circle B. Metzler seel. Sohn & Co. Holding AG since 2002, responsible for the Asset Management business area.

He has been a member of the Board of Management and Executive Committee of Frankfurt Main Finance since 2017 and was instrumental in supporting activities to attract Japanese financial institutions. Wiesheu has been Chairman of the German-Japanese Business Circle since 2011 and has already been actively engaged in business with Japan since 1987.

Dr Lutz Raettig is a member of the Supervisory Board of Morgan Stanley Europe Holding SE, Morgan Stanley Europe SE and Morgan Stanley Bank AG. From 1995 to 2005 he was Chairman of the Board of Directors of Morgan Stanley Bank AG Frankfurt. In addition, he was Vice Chairman Europe and responsible for the Group’s business in Germany and Austria. Prior to joining Morgan Stanley, Lutz Raettig worked for eight years as a General Manager at Commerzbank in London and New York, where he held various positions including Head of Investment Banking, Head of Global Corporate Banking and finally Co-Head of the North American region in New York. He previously spent 18 years with Westdeutsche Landesbank (WestLB), primarily in the Investment Banking, Capital Markets and Corporate Banking divisions.

Volker Bouffier, Minister-President of the state of Hesse, says: “Frankfurt Main Finance has been the mouthpiece of the financial centre of Frankfurt for twelve years now and thus is also one of the weightiest voices for Germany as a financial centre. Dr Lutz Raettig and his team have earned outstanding merits in service to the site, especially since the Brexit vote. We travelled together to New York to convince the US banks of Frankfurt’s advantages. Today, four of the six biggest US banks have chosen Frankfurt as their European headquarters. This is a huge success story for the City of Frankfurt, the state of Hesse and for Germany as a whole! I also wish to expressly thank Dr Raettig for his work in the Hessian financial centre cabinet. I wish Mr Wiesheu all the best and every success in his new position!”

Tarek Al-Wazir, Minister for Economic Affairs, Energy, Transport and Housing as well as Deputy Minister-President of the state of Hesse, says: “You, Dr. Raettig, were the voice of the financial center and its face, the main driver of numerous initiatives.  You have always pointed out the meaningful and valuable services that the financial sector provides for society and the economy and have made a significant contribution to the further development of the financial center. I am delighted that you will now continue this commitment as Honorary President.”

Peter Feldmann, Mayor of the City of Frankfurt, says: “The financial industry is a central mainstay of our city. Amongst the 100 largest trade taxpayers in the city of Frankfurt, one in eight now is a foreign bank. As President of Frankfurt Main Finance and a long-standing honorary city councillor, Dr Lutz Raettig has done a great deal for Frankfurt, for which I would like to thank him warmly on behalf of the City Council and personally. He is an old-school banker and committed to the common good in the best sense of the word. I wish Mr Wiesheu all the best and every success in his new position. Here’s to good cooperation!”

Gerhard Wiesheu says: “Frankfurt Main Finance was founded in 2008 as the voice of the financial centre, and Frankfurt has benefited enormously from the successful work of my predecessor Lutz Raettig. He and his team have managed to become the driving force and mouthpiece for the financial centre: Thanks to his many years of commitment and dedication, he has built bridges between politics and business, anchored the Frankfurt financial centre even more firmly internationally and at the same time has always been a pioneer for modern, future-oriented banking. I wish to thank him for his relentless commitment to the financial centre of Frankfurt and look forward to the privilege of continuing his work.”

Dr Lutz Raettig says: “After twelve eventful years at the head of Frankfurt Main Finance, the time has now come to make room for a successor. Gerhard Wiesheu, whom I hold in great esteem, now faces new challenges and a great team behind the scenes. I wish him all the best and the right touch during his term of office. Representing the financial centre has always been both a pleasure and an honour for me.”

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