Warburg has been suffering from personnel quarrels for months: In the summer, the money house separated from its board member Matthias Schellenberg following only six months. In addition, Joachim Olearius, son of the Warburg patriarch Christian Olearius, and Peter Rentrop-Schmid resigned from their positions on the board. Joachim Olearius even served the institute as CEO for many years.
Tessmann joined Warburg at the end of 2018, having previously worked, among other things, as CEO of the Oldenburgische Landesbank. At Warburg, he is responsible for “various areas both on the back office and market side,” said the bank’s spokesman. “After more than 30 years in finance, he will now focus more on his family and pursue his own entrepreneurial activities.”
More on the subject: The secret rescue maneuver of the MM Warburg bankers
