Steven Schwarznau will become new Board member at ALVARA Cash Management Group AG


Steven Schwarznau will become a new member of the Management Board of ALVARA Cash Management Group AG as of 1 January 2021. He replaces Bernd Hohlfeld, the company’s founder and Board member until the end of the year. Together with Board member Thomas Vietze, he will keep the company on a growth course and expand its strong market position.  Bernd Hohlfeld will continue to support ALVARA as a strategic advisor and contribute his expertise to the further development of the ALVARA I Digital Solutions brand.

Leipzig, 22 December 2020 – As of 1 January 2021, Steven Schwarznau will take over responsibility for the areas of technology, product development and finance as a member of the Management Board of ALVARA Cash Management Group AG. Together with board member Thomas Vietze, he will drive business development and innovation management for both the public limited company and the ALVARA I Digital I Solutions brand. Thomas Vietze will continue to be responsible for sales (both ALVARA and ALVARAI Digital I Solutions), association work and external representation.

37-year-old Steven Schwarznau from Leipzig has a degree in “Applied Computer Science”. He has been responsible for software development and IT cloud operations at ALVARA AG for over 10 years. His successes include platform operation and leading the implementation of ideas for ALVARA ICC from the beginning. He was also instrumental in shaping the integration processes for acquisitions by the group. As an authorised signatory for many years and an important member of the ALVARA management team, he gained important experience in the areas of staff management, strategic development and the organisation of operational processes.

“Steven Schwarznau is determined and presses forward on important issues. For example, he has been with ALVARA ICC since the start”, says Thomas Vietze. “He is driven by the constant desire to further develop ALVARA solutions. We are very pleased that he is now taking on even more responsibility and driving ALVARA forward in his new role.”

With the appointment of Thomas Vietze as the second member of the Management Board (as part of the acquisition of the sister company IT Kompetenz), the first step has already been taken towards finding a successor to Bernd Hohlfeld, who will continue to serve on the Management Board until the end of the year. The appointment of Steven Schwarznau to the Board marks the completion of a successful generational change at ALVARA. Bernd Hohlfeld will leave the Management Board on 31 December 2020 and continue to support the company as a strategic advisor.

“I am looking forward to my future area of responsibility”, says Bernd Hohlfeld. “Together with the new ALVARA Board, we will bundle our expertise and expand our European market leadership.”

He founded the company in 1996 and has successfully managed it for 25 years. Bernd Hohlfeld is now shifting the focus of his future activities to his role as Managing Director of the parent company, ALVARA Holding GmbH.

“We have a lot to thank Bernd Hohlfeld for”, says future ALVARA Board member Steven Schwarznau. “ALVARA would not exist without him. He has had a decisive influence not only on the company, but also on the entire cash industry. Bernd Hohlfeld took on a pioneering role early on in the digitalisation of cash processes thanks to innovative software solutions. In doing so, he laid the foundation for an efficient, secure and transparent cash cycle. We are pleased that he will continue to be responsible for providing direction and decisions on ALVARA’s strategic issues.”

Steven Schwarznau and Thomas Vietze will continue to position ALVARA AG on the market in a future-proof manner and secure the company’s growth course.

“We will strengthen existing skills and gain new ones”, says Thomas Vietze. “The current times bring numerous challenges that we will solve together with our customers – whether it is digital innovations, growing regulatory requirements or generic market changes. Bernd Hohlfeld has done an excellent job over many years, and the new Board will continue his successful course.”

The change of personnel has no administrative impact on the business relationship with clients and partners. ALVARA Cash Management Group AG will continue to focus on trust, flexibility, quality and cooperation with its customers and business partners.