At its meeting today, the Exchange Council of the Frankfurt Stock Exchange appointed Frank Hoba as a member of the Management Board. He succeeds Martin Reck, who will leave Deutsche Börse in the course of 2021 at his own request and by mutual agreement.

"I would like to express my gratitude to Martin Reck, who has worked for Deutsche Börse for more than 25 years and has decisively shaped and advanced the cash market with his expertise over the past eight years," said Thomas Book, Member of Deutsche Börse’s Executive Board, responsible for Trading & Clearing and Chairman of the Management Board of the Frankfurt Stock Exchange. "At the same time, I am pleased that we can welcome Frank Hoba, a colleague with great experience and many years of expertise in market control, as a new member of the Management Board."

Hoba started his career at Deutsche Börse in 2000, initially as a market control employee at the Eurex derivatives exchange. In 2017, Hoba took over as Head of Eurex Market Supervision. Since the beginning of the year, Frank Hoba has been responsible for the operations of Deutsche Börse's Cash Market as Head of Design and Delivery.

The further members of the Management Board are Thomas Book (Chairman), Paul Hilgers (Deputy Chairman), Cord Gebhardt and Michael Krogmann.

In addition, Oliver Szabries was elected as a new member of the Exchange Council at today's meeting. Szabries has been a member of the Executive Board of ICF Bank since January and succeeds Bernd Gegenheimer, who left ICF Bank with the expiry of his Executive Board contract end of 2020.

The Management Board of a stock exchange in Germany has certain statutory administrative duties under public law. It ensures compliance with the regulations of stock exchange laws and the orderly conduct of stock exchange trading. It can issue administrative acts and is therefore an authority in the sense of administrative law.

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