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Heinz Huber, after six years at the helm of Raiffeisen Switzerland, will step down at the end of the year to become Chairman of Graubündner Kantonalbank in July 2025. His tenure saw internal reforms and a profit increase, but critics argue he failed to innovate or diversify the bank's offerings. Huber's successor at Raiffeisen is yet to be determined, with CFO Christian Poerschke temporarily leading the bank amid ongoing strategic challenges.
Peter A. Fanconi will remain president of Graubündner Kantonalbank until June 2025, after which Heinz Huber will take over as chairman starting July 2025. Huber, currently CEO of Raiffeisen Switzerland, succeeds Fanconi amid scrutiny related to a controversial credit concession involving an Austrian real estate group.
Heinz Huber's unexpected departure as CEO of Raiffeisen Switzerland follows a successful tenure marked by significant growth, including a rise in group profit from CHF 835 million to CHF 1.39 billion. Despite expanding its client base amid Credit Suisse's decline, the bank faced setbacks in digital services, notably with a delayed app launch. Huber will take over as President of Graubünden Kantonalbank, succeeding Peter Fanconi amid scrutiny over a controversial loan.
Heinz Huber, CEO of Raiffeisen since January 2019, will leave the bank at the end of the year to become Chairman of Graubünden Kantonalbank in July 2025, succeeding Peter Fanconi, who is stepping down amid scrutiny over a controversial loan. Christian Poerschke will serve as interim CEO of Raiffeisen during this transition.
Eastern Switzerland's financial institutions are facing significant challenges, particularly Raiffeisen, which is grappling with IT issues and customer dissatisfaction. CEO Heinz Huber will step down at the end of the year amid a 500 million franc debacle, yet he will take on the role of Chairman at Graubündner Kantonalbank in July 2025. The region's banking sector continues to be marred by scandals and governance concerns, raising questions about the accountability of its leaders.
Huber has been elected as the new Chairman of GKB, effective from July 1, 2025, to June 30, 2029, following his tenure as Chairman of the Executive Board of Raiffeisen Switzerland since 2019. He replaces Peter Fanconi, who will step down early amid scrutiny over GKB's lending practices but will remain in his role until June 2025 to ensure a smooth transition.
The Vienna Stock Exchange experienced losses on Tuesday, with the ATX index dropping 0.92% to 3,589.88 points amid cautious sentiment ahead of the Fed's monetary policy decision. EVN shares fell 8.2% after reporting lower revenue and profit, while insurance stocks like Vienna Insurance Group and Uniqa gained. Economic data showed mixed signals, with a surprising drop in Germany's Ifo business climate index and a decline in US industrial production, although retail sales rose ahead of the holiday season.
Heinz Huber, CEO of Raiffeisen Switzerland, will step down on December 31, 2024, after nearly six years in the role. He plans to become Chairman of Graubündner Kantonalbank in July 2025. Christian Poerschke will serve as interim CEO starting January 1, 2025, as the bank initiates the succession process.
Raiffeisen is in the process of searching for a new leader following the departure of Huber. The move has created significant attention within the organization as it seeks to fill the leadership void promptly.
Raiffeisen Bank International (RBI) experienced a 1.99% drop in share price to EUR 19.67 on December 17, despite a month-on-month increase of 9.37%. The bank's market capitalization is EUR 6.5 billion, and it plans to distribute a dividend of EUR 1.25 per share for 2024. With a price/earnings ratio of 2.71 and a price/sales ratio of 0.71, the bank's fundamental figures stand out in the sector, prompting discussions on whether to buy or sell shares.
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