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Massimiliano Fossati to become new Chief Risk Officer at Bank Austria

  • Bank Austria's new Chief Risk Officer (CRO) has sound international experience and is currently Chief Risk Officer at Yapi Kredi Bank in Turkey
  • As member of Bank Austria's Management Board, Fossati succeeds Stephan Winkelmeier who is returning to Germany for family reasons

Massimiliano Fossati was appointed as new member of the Management Board of Bank Austria with responsibility for the risk management (Chief Risk Officer; CRO) by the Supervisory Board of UniCredit Bank Austria AG as of 8 June 2010 upon a proposal made by Willibald Cernko, Bank Austria's CEO. As the bank's new CRO, he will be responsible for the management of credit, market and operational risk.

"I am glad that with Massimiliano Fossati we have a proven specialist from within our Group for this demanding job, someone with sound international experience. This gives Bank Austria a first-class expert with a high level of technical and management expertise", says Alessandro Profumo, chairman of Bank Austria's Supervisory Board.

Currently Massimiliano Fossati is CRO and member of the Executive Committee of Yapi Kredi Bank in Turkey (a joint venture between UniCredit Group and Koč Group), where he will ensure a smooth handover to his successor. Fossati commenced his career as financial analyst in Italy after studying public finance at the L. Bocconi University of Economics and Business Management in Milan and obtaining a Master's Degree in Bank Management. He joined UniCredit Group at the end of 2000, moving to the Czech Republic in 2004, where he performed various management functions. These included the position of Management Board member of Živnostenská banka a.s. (UniCredit Group) with responsibility for credit risk management, and Management Board member of UniCredit Bank Czech Republic where he was responsible for the Global Banking Services Division, before moving to Yapi Kredi Bank in Turkey in September 2008. The 42-year old Italian is father of two children.

In this function, Fossati succeeds Stephan Winkelmeier, who is returning to Germany for family reasons and will take up a position on the Management Board of BayernLB.

For further information contact:  Bank Austria Press Office Austria
    Martin Halama, Tel. +43 (0) 50505 - 52371;
    e-mail: martin.halama@unicreditgroup.at

A reproducible photograph of Massimiliano Fossati can be downloaded free of charge  here.

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