Lutz Diederichs to lead BNP Paribas in Germany

Lutz Diederichs to lead BNP Paribas in Germany

BNP Paribas has named Lutz Diederichs group head of Germany.

Diederichs, a board member at UniCredit’s Munich-based subsidiary HypoVereinsbank, will take over from Camille Fohl in March.

Fohl has led the German business since 2013 and will relocate to Paris in a new role advising BNP Paribas’ executive committee. 

The French bank views Germany as a key market and aims to grow its market share and solutions offering in the country. 

The firm had set a target for €1.5bn in revenues from Germany alone in 2016, from both retail and institutional clients. 

Diederichs will report to Philippe Bordenave, the bank’s chief operating officer. 

“I warmly welcome Lutz to BNP Paribas,” said Bordenave. "He knows the German market very well, in particular the needs of different groups of customers which is important within the context of BNP Paribas’ diversified business model.”

“We sincerely thank Camille Fohl for the momentum he created together with our German teams – which resulted in the dynamic growth of our businesses.”

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