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| Manfred Url succeeds Erich Rainbacher as CEO of Raiffeisen Bausparkasse, Johannes Schuster joins the board of RZB
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The chairmen of the Supervisory Boards of Raiffeisen Zentralbank Österreich AG (RZB) and Raiffeisen Bausparkasse Gesellschaft.m.b.H, Christian Konrad and Walter Rothensteiner respectively, will propose to the relevant committees that they appoint Manfred Url as successor to Erich Rainbacher as CEO of Raiffeisen Bausparkasse and Johannes Schuster as successor to Manfred Url as member of the managing board of RZB. Erich Rainbacher, who has successfully managed Raiffeisen Bausparkasse for 22 years, will retire at the end of the year.
“By making these proposals, we are making decisive staff changes in key companies of the Raiffeisen banking group. Activities in both companies demand a high degree of flexibility, expertise, customer focus, networking and in-depth knowledge of the Raiffeisen Banking Group. Moreover, Manfred Url and Johannes Schuster have Raiffeisen in their blood,” said Christian Konrad, president of the Supervisory Board of RZB and Attorney General of Österreichischer Raiffeisenverband.
"Johannes Schuster is one of the most talented and at the same time one of the most experienced young managers in Austria. He is very well versed in all important banking issues. He began his career at Regional Raiffeisen Bank Upper Austria and has matured into a very strong management personality over many years at the side of Walter Rothensteiner,” as Christian Konrad described the native Upper Austrian. On Styrian-born Manfred Url he added, “He is a cornerstone of Raiffeisen, with a strong customer and sectoral focus. The proven sales professional and strategist is the best choice for continuing the successful course of Raiffeisen Bausparkasse.”
“Erich Rainbacher is the doyen amongst the CEOs of Austria’s building societies. He has left a decisive mark on Raiffeisen Bausparkasse. His customer focus, creative power and stamina are legendary. After more than two decades at the top of Raiffeisen Bausparkasse, he can withdraw from a successful career as requested,” said a grateful Walter Rothensteiner, CEO of RZB and president of the Supervisory Board of Raiffeisen Bausparkasse. “With Manfred Url’s departure we say farewell to a good friend from the RZB board, but in him Raiffeisen Bausparkasse is gaining an excellent new CEO.”
“Johannes Schuster was the logical choice for the successor to Manfred Url on the board of RZB. In more than eleven years of intensive cooperation, he has put his qualities and skills superbly to the test – including expertise, a focus on results and management strengths. I look forward to continuing our shared path with him as a colleague on the board.”
In accordance with the proposal put forward by the presidents of the Supervisory Boards, Manfred Url will replace Erich Rainbacher at the end of the year, while Johannes Schuster will join the board of the sector’s central institute, Raiffeisen Zentralbank Österreich AG, with the establishment of the new RZB group structure.
Raiffeisen Zentralbank (RZB)
Raiffeisen Zentralbank Österreich AG (RZB) is the central institute of the Raiffeisen Banking Group, the largest banking group in Austria. It is a leading commercial and investment bank in Austria and also considers Central and Eastern Europe (CEE) its home market. RZB is the only Austrian bank to have a global network of offices, which covers all of the world’s major financial centres. In addition, the company is represented with branch and representative offices in nine locations across Asia.
RZB operates one of the largest banking networks in CEE via its listed subsidiary, Raiffeisen International Bank-Holding AG. Seventeen markets in the region are covered by subsidiary banks, leasing companies and a range of other financial services companies. More than 15 million customers are served in around 3,000 offices.
The balance sheet total of the RZB Group amounted to around EUR 148 billion at the end of 2009. Profit before tax grew by 38 per cent to EUR 824 billion in 2009. At the turn of the year, the Group employed around 61,900 people worldwide.
New RZB group structure
The managing boards of Raiffeisen Zentralbank Österreich AG (RZB) and Raiffeisen International decided in April 2010 to ask their respective shareholders to reach a decision on the merger of significant parts of the banking operation of RZB with Raiffeisen International. The merged bank would bear the name Raiffeisenbank International AG, obtain an Austrian banking licence as a result of the merger and remain a listed company.
The transaction will not affect the functions of RZB as the central institute of the Raiffeisen Banking Group, and therefore none of the associated business areas and holdings of RZB. RZB will subsequently continue to be the sector's central institute, with a focus on servicing the Raiffeisen Banking Group and will additionally act as the holding company for its Group.
Its subsidiary Raiffeisenbank International will be a commercial bank for corporate customers, financial institutions and consumers. The latter in Central and Eastern Europe, where 15 million customers are already served by Raiffeisen International. The merged bank will also offer optimised preconditions for even better support of multinational companies across the entire sphere of action of the banking group.
In connection with the stock exchange listing, Raiffeisenbank International will have greater opportunities for accessing the capital, money and bond markets than were previously enjoyed by either RZB or Raiffeisen International. That supports the use of long-term growth opportunities. The minimisation of parallel structures can raise synergies and further improve control of the entire Group, such as by means of simplified Group-wide risk controlling. Furthermore, the Emerging Markets business at the locations in Asia that was up to now conducted by RZB on a highly selective basis, will be bundled with the business of Raiffeisen International in Central and Eastern Europe within Raiffeisenbank International.
Raiffeisen Bausparkasse
Raiffeisen Bausparkasse is the special institute for the creation, maintenance and improvement of living space. It operates in its home market of Austria as well as in Slovakia, the Czech Republic, Croatia and Romania. With a Group balance sheet total of EUR 10 billion, it is the market leader amongst the Austrian building societies. Raiffeisen Bausparkasse is a subsidiary of RZB and of the Regional Raiffeisen Banks.
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Raiffeisen Zentralbank Österreich AG (RZB) is the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group. It is a leading corporate and investment bank in Austria and also considers Central and Eastern Europe (CEE) as its home market. RZB is the only Austrian bank with a global network of business units reaching all important finance centres around the globe. It is also present in Asia with branches and representative offices in nine locations.
Via listed subsidiary Raiffeisen International Bank-Holding AG, RZB operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers. The group's 56,500 employees service more than 15 million customers through around 3,000 business outlets.
www.ri.co.at, www.rzb.at
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