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Press Release from 2022-09-28 / Group, KfW IPEX-Bank

KfW appoints Belgin Rudack to Management Board of subsidiary KfW IPEX-Bank

  • Belgin Rudack, currently CEO of Creditplus Bank AG, starts on 1 January 2023
  • Transition from retiring CEO Klaus R. Michalak as scheduled

Shareholder KfW and the Board of Supervisory Directors of KfW IPEX-Bank are delighted to have secured Belgin Rudack as the successor to CEO Klaus R. Michalak, who is retiring as planned.

Belgin Rudack, born in 1967, will be appointed to the bank’s Management Board on 1 January 2023 and will assume the role of CEO when Klaus R. Michalak leaves the bank on 31 March 2023. Ms Rudack is the current CEO of Creditplus Bank AG, a company belonging to the French Crédit Agricole Group. She has held this position since 2017 and, during this time, realigned the business model of Creditplus Bank AG towards the future and introduced new sales structures. Ms Rudack, who holds a degree in business administration, has previously held various management positions at several international commercial banks, including PlanetHome Group AG (formerly Unicredit Bank group), Santander Consumer Bank AG (formerly SEB AG), the GE Capital group and the Citigroup group of companies. These positions have enabled her to gain extensive experience in the international loan business and she can look back on projects involving the successful implementation of digital structures and new business strategies.

Christiane Laibach explains: “KfW IPEX-Bank is currently honing its structure so that, in the future, it will be able to provide its customers with even more effective support in their process of transformation to greenhouse gas neutrality, and to contribute to the KfW strategy “KfWplus – Promoting transformation, boosting resilience”. We are therefore very pleased to have Belgin Rudack on board at KfW IPEX-Bank. She is an attested, experienced expert and recently implemented a successful development process for her bank to become even more customer-focused and sales-oriented while maintaining a high level of employee satisfaction.”

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.

Portrait photo of Ms Belgin Rudack:
For reporting purposes, a photo of Ms Belgin Rudack can be downloaded from KfW's photo archive using the following link:


Portrait von Michael Helbig

Dr Michael Helbig

First Vice President of the Communication Dept. and Public Relations Officer

+49 69 74 31 43 26