UniCredit Bank GmbH
HypoVereinsbank nominates Theodor Weimer as successor to Chairman of the Management Board Wolfgang Sprissler and adopts resolution for further development of the Management Board’s Corporate Governance
Bayerische Hypo- und Vereinsbank AG / Strategic Company Decision/Change of Personnel Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- At its meeting held today, the Supervisory Board of HypoVereinsbank nominated Dr. Theodor Weimer (48) as successor to Dr. Wolfgang Sprissler (62), Chairman of the Management Board of HypoVereinsbank. Weimer, currently Head of Investment Banking in the Markets & Investment Banking Division both of HypoVereinsbank and of the UniCredit Group and responsible for the Division’s worldwide M&A, Capital Markets and financing activities, has been appointed Chief Representative of HypoVereinsbank with immediate effect, with responsibility for the Divisions Markets & Investment Banking and Corporate Banking. The Chairman of the Management Board, Dr. Wolfgang Sprissler, confirmed to the Supervisory Board that upon expiry of his contract in March 2009 he will no longer be available for re-election and has asked the Supervisory Board to release him from his functions as a member and Chairman of the Management Board of HypoVereinsbank at the turn of 2008/2009. At the request of the UniCredit Group, Sprissler agreed that he would also be willing to assume an important role for HypoVereinsbank and the UniCredit Group in future. Subject to the approval of the supervisory authorities, Dr. Theodor Weimer was appointed by the Supervisory Board as a member of the Management Board of HypoVereinsbank with effect from January 1, 2009 and will, after the respective election as CEO, take charge of the responsibility for the Divisions Markets & Investment Banking and Corporate Banking. Weimer will be proposed to join the Management Committee of the UniCredit Group. Further development of the Corporate governance of HypoVereinsbank In addition, at its meeting today the Supervisory Board adopted a resolution concerning the further development of the management structure at HypoVereinsbank. In the wake of this measure, the Management Board will be reduced in size from a previous ten to six members. In future, the Management Board will be focussing even more closely on its central tasks, i.e. governance, distribution of resources, controls and risk management of the Bank. With its new structure, the Bank is taking account of the meanwhile successfully concluded integration into the UniCredit Group and doing justice to the modern principles of international Corporate governance. By streamlining the Management Board, the leadership organisation of HypoVereinsbank will become more efficient. Within the Management Board, from May 1, 2008 Dr. Wolfgang Sprissler (Retail as well as Wealth Management Division) and Ronald Seilheimer (Markets & Investment Banking as well as Corporate Division) will be responsible for the bank´s operating businesses, respectively. The Management Board of HypoVereinsbank will consist of the following members effective as of May 1, 2008, who were partly reconfirmed in office or newly appointed at today’s meeting of the Supervisory Board. - As Chairman of the Management Board, Dr. Wolfgang Sprissler is responsible for the central functions of Legal Affairs, Internal Audits, Communications and the General Secretariat. In addition, he will be in charge of the Retail Division as well as Wealth Management Division. - Ronald Seilheimer, on the Management Board, will be responsible for the Markets & Investment Banking Division and the Corporate Division. - Rolf Friedhofen as Chief Financial Officer (CFO) will be in charge of the centralized functions of Accounting, Operations & Projects, Equity Shareholdings, Asset Liability Management, Taxes, Investor Relations, and Planning & Controlling. - Henning Giesecke, as Chief Risk Officer (CRO) will be responsible for credit and risk management activities at HypoVereinsbank. In parallel, he will retain his present function as CRO of the UniCredit Group. - Heinz Laber will continue to be responsible for Human Resources. In addition, he will take charge of the centralized divisions Organisation, Procurement, Back Office, IT and Corporate Logistics & Facility Management. - Stefan Ermisch, as Chief Operating Officer (COO) of the Markets & Investment Banking Division, will be in charge of the organisation and integration of the investment banking activities of the UniCredit Group into HypoVereinsbank. The previous Management Board members Willibald Cernko (Retail Division) and Andreas Wölfer (Wealth Management Division) will be in charge from May 1, 2008, as in the past, of operational management and be responsible for the businesses in Germany, HypoVereinsbank’s home market. Moreover, Willibald Cernko and Andreas Wölfer will represent the interests of HypoVereinsbank in the respective Executive Committees of the global Divisions. Ronald Seilheimer will retire from the Management Board of HypoVereinsbank by mutual agreement as at the end of 2008. He has succesfully built the segment Principal Investments within the Markets & Investment Banking Division. Under his leadership a sound platform has been set up, that allows to further leverage on the potential created by Private Equities Investments themselves as well as related business activities. Dr. Stefan Schmittmann, in charge of Corporate Customers on the Management Board of HypoVereinsbank in the past, will be leaving the Management Board of HypoVereinsbank by mutual agreement as at April 30, 2008 to take up new tasks. Under his management, Corporate Banking saw outstanding development, particularly as far as profitability, customer and employee satisfaction are concerned. At the same time, Lutz Diederichs (45), Divisional Management Board member for large-scale enterprises and commercial real-estate customers, will take over the operational reponsibility for Corporate Banking in Germany within the competences of Ronald Seilheimer. As successor to Schmittmann, Diederichs will also represent the interests of HypoVereinsbank in the Executive Committee of the UniCredit Group’s Corporate Division. Matthias Sohler, currently COO of HypoVereinsbank, will be leaving the Management Board of HypoVereinsbank effective as of April 30, 2008 following the successful reorganisation of IT and Operations at HypoVereinsbank and after finalising the company's outsourcing programmes. These included outsourcing IT applications and securities processing & custody and the transfer of payment processing services to Postbank. He will remain a member of the Global Banking Services Executive Committee in the UniCredit Group and will there be responsible for the Organisation, Cost Management, Procurement and Real Estate Divisions. Andrea Umberto Varese, CRO of HypoVereinsbank in the past, will be leaving the Management Board of HypoVereinsbank effective as of April 30, 2008 after having successfully implemented the key objectives and projects for the Risk Management Division in the past approximately three years following the business combination with UCG, such as the redemption of the RER portfolio and reduction of the Special Credit portfolio. He will assume the new function of Head of Distressed Debt Portfolio within the Markets & Investment Banking Division. 09.04.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Bayerische Hypo- und Vereinsbank AG Kardinal-Faulhaber-Str. 1 80333 München Deutschland Phone: +49-(0)89-378-0 Fax: +49-(0)89-378-24083 E-mail: ir@hvbgroup.com Internet: www.hvbgroup.com ISIN: DE0008022005 WKN: 802200 Indices: EURO STOXX 50 Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard), Hannover, München, Hamburg, Düsseldorf, Stuttgart; Terminbörse EUREX; Foreign Exchange(s) Paris, SWX, Wien End of News DGAP News-Service ---------------------------------------------------------------------------
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