Helaba CEO Thomas Groß to retire in 2027 as bank lowers profit outlook

Leadership transition announced

Helaba Chief Executive Officer Thomas Groß announced on 2 October 2026 that he will retire when his current contract expires in October 2027. Groß, a 61-year-old graduate industrial engineer, has led the Frankfurt-based public lender since June 2020 and currently serves as president of the Association of German Public Banks (VÖB). The bank's supervisory board formally opened the succession process at its scheduled Friday meeting following the announcement. Board chairman Stefan Reuß expressed regret over the departure but thanked Groß for providing early certainty, which establishes the framework for a structured leadership handover.

After more than 20 years of board work, 15 of them at Helaba, a good time has come to start a new phase of life.

Reuß emphasized that the supervisory board had wished to extend the partnership but fully accepted the executive's personal timeline.

We would have gladly continued our cooperation with Thomas Groß at Helaba, but we respect his personal decision not to extend his expiring contract.

Succession planning and internal candidate

Ingo Wiedemeier, aged 55, has emerged as the clear internal successor to lead Germany's third-largest Landesbank. Wiedemeier joined Helaba's managing board as chief financial officer in April 2026 and was subsequently appointed deputy chief executive officer on 1 August 2026. Prior to entering Helaba's executive board, he spent years as the chief executive officer of Frankfurter Sparkasse, a retail bank owned by the Helaba group. That executive route directly mirrors the appointment of Groß's predecessor, Herbert Hans Grüntker, who similarly advanced from the top position at Frankfurter Sparkasse to head the parent Landesbank.

Profit forecast reduction and cost cuts

In addition to the retirement notice, Helaba lowered its full-year 2026 pretax profit guidance to 500 million euros, down from an earlier forecast range of 600 to 700 million euros. In the previous year, 2025, the lender reported a pretax profit of 731 million euros across its operations, which employ approximately 6,900 people worldwide. The lower forecast stems from difficulties in the commercial real estate sector, which prompted Groß to initiate a package of cost reductions. Management intends to cut non-staff operating expenses significantly and reduce total headcount by letting natural attrition run without automatically filling vacancies. Furthermore, Helaba's property development subsidiary OFB will undergo restructuring due to what management identified as substantial downsizing requirements. Despite the revised outlook for 2026, the bank maintained its medium-term financial target to raise annual pretax profit to 1 billion euros within five years.

Sector consolidation and ownership structure

Throughout his tenure, Groß campaigned for structural consolidation within the Landesbank sector, where Helaba ranks third behind Landesbank Baden-Württemberg (LBBW) and BayernLB. However, several high-profile merger initiatives failed to reach fruition during his leadership, including a proposed combination with the Sparkassen sector's investment fund service provider. Helaba also lost out in the competitive process to acquire commercial property lender Berlin Hyp, which was instead bought by LBBW. As an institution, Helaba operates as the central service provider and clearing bank for savings banks in Hesse, Thuringia, North Rhine-Westphalia, and Brandenburg. The bank's ownership remains split among public entities, with the Sparkassen association of Hesse and Thuringia, headed by Reuß, holding 50%, the State of Hesse holding 30%, and the State of Thuringia alongside other regional savings banks holding the remaining shares.