Rainer Riess To Succeed Josef Nägel As Head Of Neuer Markt

Josef Nägel (40), who as Head of Primary Markets at Deutsche Börse has been responsible for Neuer Markt and for the SMAX small-cap segment, is leaving the firm at the end of September. He will be succeeded by Rainer Riess (34), who has been working for Deutsche Börse since January, 1995. Riess was most recently Senior Project Manager and in 1996 and 1997 he was a member of the project team that designed and launched Neuer Markt.

Nägel has been the ead of Neuer Markt since January 1998, and during this time he built up the segment and positioned it as the leading growth market in Europe. Nägel will take on new tasks outside of Deutsche Börse. He remains tied to the company as a strategic consultant in setting up the Internet finance portal "Neuer Markt.com", which Deutsche Börse wants to launch early next year. The chief executive officer of Deutsche Börse, Werner G. Seifert, thanked Josef Nägel for his successful work: "The success of Neuer Markt is also Josef Nägel's success."