The Supervisory Board of Hamburger Privatbank Warburg is facing a remarkable change. Chief overseer Christian Olearius and his deputy Max Warburg have announced that they will give up their posts at the end of the year. This ends her time in the bank after almost four decades. In a message sent on Friday evening, they quoted saying that now was the right time to withdraw from the boards of the bank and its affiliates. Successor of Olearius should be the former North LB boss Bernd Thiemann. The Warburg group is deeply involved in the Cum-Ex scandal. The Cologne prosecutor investigates against Olearius, Warburg and numerous other managers and employees of Warburg on suspicion of tax evasion in particularly severe cases. Warburg denies any criminal charges.
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