Management Changes in Bancpost - Romania

Eurobank EFG group operates in 9 countries outside Greece including Romania where the Group fully owns Bancpost, one of the leading and most established commercial Banks in the country. Bancpost is a systemic Bank in Romania offering the full spectrum of banking products and services to Corporations and Households through a network of 286 branches. Bancpost ranks 7th in Deposits and 9th in total assets. Eurobank EFG intends to further expand its efforts for growth in the Romanian market and through Bancpost, support the local Economy in recovering faster during this challenging phase.rnrnIn this context, Group Management is pleased to announce an important set of top Management changes in Bancpost, that is going to reinforce the successful completion of the above mentioned objectives:.rnrn1. Mr. Peter Weiss is appointed Chief Executive Officer (CEO) of Bancpost. Mr. Weiss has a long and distinguished experience in the banking arena, holding senior management positions for almost 30 years in ABN Amro Bank at various countries around the globe. During the last five years he held the position of CEO of ABN Amro in Romania and prior to that he spent four years as CEO of the same bank in Greece.rnUpon the announcement of his appointment, Mr. Weiss made the following statement: “Bancpost is a traditional and well established name in the Banking sector in Romania. It is part of Eurobank EFG group, a leading regional financial player in South Eastern Europe. Together with the team of seasoned professionals already in place, we plan to further expand our business both in the Corporate and Retail sectors, bringing our Group’s full range of treasury, transaction banking, lending, insurance, brokerage and advisory products to our growing number of individual, corporate and institutional clients”.rn2. Mr. Mihai Bogza, remains Chairman of the Board of Directors in Bancpost. Mr. Bogza who has significantly contributed in the successful Management of the Bank during this challenging period, made the following statement: “We are all very proud with the way Bancpost has managed the consequences of the crisis. We were one of the first banks in Romania to come to the support of its clients, through restructuring and loan rescheduling schemes, helping them to weather the crisis. The addition of Mr. Weiss in our Management Team, is certainly going to reinforce our client-centric approach and conforms with the highest corporate governance international standards”.rn3. Mr. Dimitris Damkalidis, remains Deputy Chairman of the Board of Directors. With his long experience in banking he will continue supporting our Group’s operations at all levels in the Country.rnrnThe above mentioned Management changes are to take effect on January 1st, 2011, subject to the necessary regulatory approvals by the National Bank of Romania.rn