Belgin Rudack Named CEO of KfW IPEX-Bank Following Klaus R. Michalak’s Retirement

Belgin Rudack Named CEO of KfW IPEX-Bank Following Klaus R. Michalak’s Retirement

(PRESS RELEASE) FRANKFURT AM MAIN 30-Dec-2022 — /EuropaWire/ — Belgin Rudack has joined the Management Board of KfW IPEX-Bank, a subsidiary of KfW, a German state-owned investment and development bank. On 1 January 2023, she will become one of five members of the Management Board, which is responsible for export and project finance within the KfW Group. After Klaus R. Michalak retires on 31 March 2023, Rudack will take over as CEO.

Belgin Rudack was previously CEO of Creditplus Bank AG, a company belonging to the French Crédit Agricole Group. She had held this position since 2017. During her term of office, Rudack focused on the future of Creditplus Bank AG’s business model and introduced new sales structures.

In future, KfW IPEX-Bank will focus even more strongly on supporting its customers’ transformation process on the path towards greenhouse gas neutrality and financing future technologies for this purpose. Belgin Rudack will be instrumental in shaping this orientation as a proven and experienced expert.

About KfW IPEX-Bank
Within KfW Group, KfW IPEX-Bank is responsible for project and export finance. It supports German and European companies operating in key industrial sectors in global markets by structuring medium and long-term financing for their exports, funding infrastructure investments, securing supply of raw materials and by financing environmental and climate protection projects worldwide.

As a bank that stands for transformation, it finances technologies of the future to support the transition towards a sustainable society in all three dimensions of the economy, environment and society. By implementing ambitious sector guidelines for CO2-intensive sectors KfW IPEX-Bank ensures its financings are compatible with the goals of the Paris Agreement. By introducing GHG accounting it aims to achieve a net zero emissions portfolio by 2050.

As specialist bank, KfW IPEX-Bank has extensive industry, structuring and country expertise, it takes on leading roles in financing consortia and actively involves other banks, institutional investors and insurance firms. KfW IPEX-Bank operates as a legally independent group subsidiary and is represented in the most important economic and financial centres across the globe.

Media contact:

Philipp Kielbassa
+49 69 74 31-6431
philipp.kielbassa@kfw.de

SOURCE: KfW