Dieter Silmen, 63, member of Baader Bank AG's Executive Board responsible for the Market Making division, has chosen to retire with effect from 31 December 2013. He is leaving the company on good terms and by mutual agreement. Mr. Silmen's responsibilities will be transferred to Nico Baader, son of the bank's founder and also a member of the Executive Board.

This means that Nico Baader will be responsible for all of the bank's front office operations from now on. Mr. Silmen joined Baader Bank on 1 January 2001 as Chief Representative for Trading and was appointed as a member of Baader Bank's Executive Board in August 2003. He will continue to assist Baader Bank in an advisory capacity following his departure at the end of the year.