The Apotheker- und Ärztebank is more important than any Volksbank or Raiffeisenbank.
The largest cooperative bank is not subject to national supervision, but directly to the European Banking Supervision of the ECB.
All the more astonishing are the weaknesses that have been evident in the institute named Apobank for years.
The haphazard conversion of the IT system two years ago cost CEO Ulrich Sommer his job.
The chairman of the supervisory board, Ulrich Montgomery, known as a medical official but less as a banking expert, was followed by Karl-Georg Pochhammer, deputy chairman of the board of the Association of Statutory Health Insurance Dentists.
Pochhammer brought in Matthias Schellenberg as the new CEO, who fell out with two board members in less than half a year.
The accusations that Schellenberg owes the chairmanship of the board to the recommendation of the management consultancy BCG and is now returning the favor with orders are harsh.
The supervisory board must deal with the allegations conscientiously and quickly.
Apobank and its more than 100,000 members deserve credible leadership.