Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Headlines

Germany to tap utility executive Reiche for economy minister, sources say

Published by Global Banking and Finance Review

Posted on April 27, 2025

Featured image for article about Headlines

BERLIN (Reuters) -Germany's conservative party is expected to name Katherina Reiche as the country's next economy minister, as part of a raft of appointments to be revealed on Monday, two people familiar with the matter said.

German conservatives under Friedrich Merz clinched a coalition deal with the centre-left Social Democrats (SPD) earlier this month, aiming to revive growth in Europe's largest economy just as a global trade war threatens recession.

A former lawmaker, Reiche has been CEO of regional energy infrastructure firm Westenergie - a division of E.ON, Europe's largest operator of power grids -- since early 2020.

Carsten Linnemann, General Secretary of Merz's CDU, said the conservative party would unveil its ministerial appointments on Monday.

Reiche, 51, served as a member of Germany's parliament from 1998 until 2015 and held roles as parliamentary secretary at the environment and transport ministries.

Prior to her current role, Reiche -- who sits on the supervisory board of automotive supplier Schaeffler -- was the chief executive of Germany's VKU association of local utilities.

The CDU and E.ON declined to comment.

(Reporting by Andreas Rinke; Writing by Christoph Steitz;Editing by Ros Russell)