New York/Frankfurt — Two of Germany’s biggest regional banks have just appointed the first women to their management boards. It took them more than 100 years.

Deutsche Apotheker- und Äerztebank, which was founded in 1902 and now has assets of about €50bn, named Jenny Friese to oversee large corporate clients and markets, starting January 1. At Merck Finck, which traces its roots back to 1870, Linda Urban took over as COO in January...

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