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.

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.