The European Covered Bond Council hopes to name a new deputy chairman at its Vancouver plenary next week, with Ralf Grossmann stepping down from the position as well as his as role of head of covered bond origination at Société Générale.

Grossmann was appointed ECBC deputy chairman at the last ECBC plenary, in Barcelona in September, putting him in line to become chairman after the 2018-2019 term of chairman Niek Allon of NIBC – under the industry body’s conventions, deputy chairmen step up to become chairman after two years.

However, The CBR understands that Grossmann is departing his role as head of covered bond origination at SG, where he has worked in Frankfurt, due to reorganisation at the French bank, and he will therefore no longer continue in his ECBC position.

“The ECBC is very grateful to Ralf for his service to the organisation, and also for helping enhance the covered bond product and community over the years,” Luca Bertalot, EMF-ECBC secretary general, told The CBR.

The ECBC could name a new deputy as soon as next Wednesday, during its plenary in Vancouver, following meetings of its executive bodies beforehand.

Current chairman Allon took on the role of chairman early after previous chairman Waleed El-Amir stepped down upon leaving UniCredit.

Grossmann joined SG after leaving Natixis in 2007.

Photo: Grossmann, Bertalot, and Allon, at the Barcelona ECBC plenary in September.