KfW IPEX-Bank: Belgin Rudack takes over as Chair of the Management Board

Belgin Rudack will take on the role of Chair of the Management Board of KfW IPEX-Bank as CEO on 1 April 2023. She succeeds Klaus R. Michalak, who resigned and retired as planned on 31 March 2023.

“The past three months have been interesting and confirmed my decision,” said Belgin Rudack. “I came across a highly motivated and qualified workforce and developed a deep understanding of the areas we focus on. Over the next few years, our bank’s main goal will be to accompany our customers on their transformation path to a sustainable future and to position ourselves internally so that we can do this effectively and profitably at the same time.”

In January, Rudack joined the Management Board of KfW IPEX-Bank, which is responsible for export and project finance within KfW Group. She was previously CEO of Creditplus Bank AG, a company belonging to the French Crédit Agricole Group. She had held this position since 2017.

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.

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 change mitigation projects worldwide.

As a bank that stands for transformation, it finances technologies of the future to support the transition towards sustainable society in all three dimensions of the economy, environment and social. 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.