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16.01.2006

New Management of merged HVB Tiriac Bank has been designated

Bank Austria Creditanstalt has designated the members of the board for the future “HVB Tiriac Bank”, its Romanian subsidiary. HVB Bank and Banca Tiriac will be merged in the first half of 2006. Subject to approval by the Romanian authorities, the merged bank's new Management Board will have five members:

Dan Pascariu (55), currently Chief Executive Officer (CEO) of HVB Bank, has been designated as CEO of the merged bank. He will also be responsible for the Risk Management and the Treasury of the bank. Andreas Gschwenter (36) will become Chief Operating Officer (COO) of HVB Tiriac Bank. Florian Kubinschi (45) will become Chief Financial Officer (CFO) of the merged bank. Manuela Plapcianu (43) is designated as Managing Board Member for Retail, Wolfgang Schoiswohl (43) will take over the responsibility for Corporate. Catalin Parvu, currently in charge of Retail and SME in Banca Tiriac, will take over new responsibilities within the bank. Selcuk Saldirak, currently CEO of Banca Tiriac, and Haluk Kurcer, currently COO of Banca Tiriac, will leave the bank after the merger.

The new Management Board will start its work after the merger of HVB Bank and Banca Tiriac has been completed. The merger of HVB Bank and Banca Tiriac will create the fourth largest Romanian bank with total assets of EUR 2.1 billion, 7.5 per cent market share and 720,000 customers. HVB Tiriac Bank is a subsidiary of BA-CA, member of UniCredit Group. BA-CA is the largest Austrian bank and operates an extensive network in Central and Eastern Europe.

Inquiries: Bank Austria Creditanstalt International Press Relations
Ildiko Füredi-Kolarik, Tel. +43 (0)5 05 05 56102; e-mail: ildiko.fueredi@ba-ca.com