Andreas Treichl to step down as CEO of Erste Group Bank at the end of 2019

Erste Group Bank (Erste Group) announces that Andreas Treichl will step down from his role as Chief Executive Officer at the end of 2019 and that the Supervisory Board has appointed Bernhard Spalt, currently Chief Risk Officer of Erste Bank Oesterreich, to succeed him.

Treichl was the head of the bank at the time when the Romanian Commercial Bank (BCR) was privatized. BCR is currently the second largest bank in Romania, being surpassed recently by Banca Transilvania, and one of the most important financial institution in the local banking system.

“Heading Erste as it evolved from a local bank into the biggest financial services provider in the Eastern part of the European Union has been my life’s work. It’s been both challenging and fulfilling – and I’m extremely proud that together with our nearly 48,000 employees we have expanded the bank, taken it through the financial crisis and put it on an even stronger footing for the next stage of growth in the digital age. It’s important to me that we are recognized as not only one of the best performing and most modern banks in Europe, but also for focussing on bringing prosperity to our region and our clients, true to our founding mission. I’m convinced that Bernhard Spalt is exactly the right person to chart the bank’s path going forward,” said Andreas Treichl.

Chairman of the Erste Group Supervisory Board Friedrich Roedler, who led the selection process to identify Andreas Treichl’s successor, said: “In his 27 years at Erste, Bernhard Spalt has acquired broad frontline experience across banking businesses in CEE, both in good and bad times. He is deeply connected to Erste’s heritage and DNA and passionate about building the bank for the next generation.”

“It’s a great honour to be asked to follow Andreas Treichl at the helm of Erste Group. Erste is geared up for growth, not least thanks to our focus on the real economy in CEE and innovative products and services like our digital banking platform, George. While we are set to celebrate our 200th anniversary next year, thanks to Andreas Treichl and our colleagues, I am taking over a bank that’s forward-looking, confident and well-positioned to provide its customers with the very best in banking in the decades to come,” said Bernhard Spalt.

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Commenting on Andreas Treichl’s contribution to Erste Group, Friedrich Roedler said: “It is hard to overstate the pivotal role Andreas Treichl has played in Erste’s history. Together with his management team, he has built the Group into the largest and best performing in CEE, navigating both periods of booming growth, as well as extraordinary challenge. Having said this, we have ahead of us nearly one and a half years of close cooperation with Andreas Treichl and his management team to ensure we have a smooth transition and maintain the bank’s growth momentum in the years to come.”

Bernhard Spalt will step down from all his other mandates before becoming Erste Group’s Deputy CEO to Andreas Treichl, which is expected mid-2019.

Following his tenure as CEO, Andreas Treichl will become Chairman of the Supervisory Board of the ERSTE Foundation, Erste Group’s largest shareholder, from 2020.