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Raiffeisen Banka Gets New Management

Maribor, 16 August (STA) - The supervisors of Raiffeisen Banka, the Slovenian subsidiary of Austria's Raiffeisen Bank, have appointed Gvido Jemenšek the bank's new chairman. Jemenšek is succeeding Klemens Nowotny, who stepped down after six years at the helm of Raiffeisen Banka, citing personal reasons, the bank said on Friday.

A member of the management board since 2007, Jemenšek, who has 16 years of experiences in banking, including ten years in investment banking and treasury, took over on Wednesday.

The supervisors moreover filled the second spot on the two-member board with Werner-Georg Mayer, who will be responsible for risk management, finance and operations, organisation and IT.

"With Gvido Jemenšek we got a very good successor...He has years of experience and has been closely tied to this bank for several years," chief supervisor Hannes Mösenbacher wrote in a press release.

Raiffeisen Banka held a 3.13% market share in Slovenia at the end of 2012. It reported a EUR 8.7m loss for last year after a EUR 5.5m loss in 2011.

The bank is continuing a gradual reduction in the scope of its operations in Slovenia as announced in October 2012, when it said it would lay-off some 150 of what were 326 of its employees in the country at the time. It added it planned to keep all of its 17 branch offices in Slovenia.

Today it said it is focussing on the areas where value added could be made.

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