{
}
Raiffeisen Group reported a 13% decline in profit for 2024, totaling 1.2 billion Swiss francs, impacted by a changing interest rate environment. Despite this, the bank gained market share in the mortgage sector, with lending up 4.6%, and expanded its corporate client base by acquiring 5,000 new clients. Challenges included a setback in app development and a value adjustment of 82.4 million on its investment in Leonteq, while the search for a new CEO continues following Heinz Huber's departure.
Raiffeisen Group reported a 13% decline in consolidated profit to 1.2 billion Swiss francs in 2024, impacted by a lower interest margin of 0.97%. Despite this, the bank gained market share in the mortgage sector, increasing lending by 4.6% and acquiring 5,000 new corporate clients. Challenges included a delay in launching a new banking app and ongoing leadership transitions following the departure of CEO Heinz Huber.
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.
Heinz Huber will leave his position as CEO of Raiffeisen at the end of the year, transitioning to Chairman of the Board of Directors at Bündner Kantonalbank in July 2025. His tenure at Raiffeisen, marked by significant reforms and a failed super app launch, has been overshadowed by digitalization challenges and internal frustrations.
Heinz Huber, CEO of Raiffeisen Switzerland since January 2019, will step down at the end of the year to become Chairman of the Board of Directors at Graubündner Kantonalbank in July 2025, succeeding Peter Fanconi. Huber's tenure saw significant growth for Raiffeisen, despite recent turbulence, including the departure of COO Uwe Krakau following a failed app launch. Christian Poerschke will serve as interim CEO while a succession plan is underway.
Heinz Huber, CEO of Raiffeisen Switzerland since January 2019, will step down at the end of the year to become Chairman of the Board of Directors at Graubündner Kantonalbank in July 2025, succeeding Peter Fanconi. Huber's tenure saw significant growth for Raiffeisen, despite recent turbulence, including the departure of COO Uwe Krakau following a failed app launch. Christian Poerschke will serve as interim CEO while a succession plan is underway.
Dr. Mario Crameri's consulting firm, nxt digital AG, has been tasked by Raiffeisen Switzerland's Board of Directors to investigate the significant IT issues surrounding its e-banking app, which has incurred costs in the "hundreds of millions" of francs. The probe will examine the roles of dismissed operations head Uwe Krakau and CEO Heinz Huber, amid allegations of falsified test results and numerous irregularities. As the situation unfolds, it appears that more senior executives may face consequences.
Uwe Krakau has stepped down as COO of Raiffeisen Cooperative Bank after two years, leading to the abolition of his role. The decision follows a critical review of the bank"s strategy implementation, particularly the halted launch of a new app due to technical issues and internal tensions, notably between Krakau and Head of IT Niklaus Mannhart, who has since taken over project management.
Raiffeisen Switzerland has abolished the Chief Operating Officer role just two years after its introduction, following a critical review of the group"s strategy implementation. Uwe Krakau, who was appointed to lead this initiative, is leaving the cooperative bank as the responsibilities will now be distributed among existing departments to streamline processes. This decision contrasts with CEO Heinz Huber"s commitment to continuity in management.
Heinz Huber and Thomas Müller face backlash after their failed Strategy 2025, leading to the dismissal of Uwe Krakau and the scrapping of a malfunctioning super app intended for Raiffeisen"s 3.5 million customers. The costly missteps, including a bloated cost structure and ineffective management, threaten over 100 jobs as the bank attempts to regain stability.
Uwe Krakau
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Raiffeisen reports profit decline while expanding mortgage and corporate client business
16:05 27.02.2025
Raiffeisen Group reports lower profit amid changing interest rate environment
15:36 27.02.2025
Heinz Huber appointed Chairman of Graubündner Kantonalbank after Raiffeisen tenure
Swiss Franc
Graubündner Kantonalbank
AUT
CHE
Christian Poerschke
Pierin Vincenz
Beatrice Bosiger
René Benko
Uwe Krakau
Heinz Huber
Peter A. Fanconi
Patrik Gisel
Show more
18:09 18.12.2024
Heinz Huber Resigns as Raiffeisen CEO to Lead Bündner Kantonalbank
Swiss Franc
Raiffeisen-Osteuropa-Rent
CHE
René Benko
Peter Fanconi
Heinz Huber
Patrik Gisel
Uwe Krakau
Pierin Vincenz
Jorgos Brouzos
Show more
15:58 18.12.2024
Heinz Huber Appointed Chairman of Graubündner Kantonalbank After Raiffeisen Tenure
Graubündner Kantonalbank
Thurgauer Kantonalbank
CHE
Thomas Müller
Heinz Huber
Beat Schmid
Uwe Krakau
Peter Fanconi
Christian Poerschke
Show more
07:51 18.12.2024
Heinz Huber appointed Chairman of Graubündner Kantonalbank after Raiffeisen tenure
Graubündner Kantonalbank
Thurgauer Kantonalbank
CHE
Thomas Müller
Uwe Krakau
Heinz Huber
Peter Fanconi
Christian Poerschke
Beat Schmid
Show more
06:43 18.12.2024
investigation launched into raiffeisen app failure amid mounting costs and irregularities
Swiss Franc
Credit Suisse Anlagestiftung
Raiffeisen Switzerland Cooperative
CHE
Thomas Müller
Uwe Krakau
Mario Crameri
Heinz Huber
Show more
07:50 28.10.2024
coo uwe krakau departs raiffeisen bank amid app project tensions
09:00 24.10.2024
Raiffeisen abolishes COO role after two years amid strategy review
09:00 22.10.2024
Raiffeisen leadership faces backlash over failed strategy and app development issues
08:46 22.10.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Industry Mergers & Acquisitions
Finance Mergers & Acquisitions
Banking Regulations
Global Financial Events
Global Trade Developments
Retail and Consumer Goods
Domestic Politics
CEO Changes
Central Bank Actions
Startups & Entrepreneurship
Market Analysis and Predictions
Workplace Trends
Government Policies
Elections & Campaigns
Government Economic Policies
Inflation and Monetary Impact
Supply Chain Management
Countries:
Companies:
Tesla, Inc.
JPMorgan Chase & Co.
Barclays PLC
Deutsche Bank Money Market PP
Apple Inc.
UniCredit S.p.A.
Banco BPM S.p.A.
Credit Suisse Strategic Income I
Lloyds Banking Group plc
BNP Paribas SA
UBS Group AG
The Goldman Sachs Group, Inc.
CREDIT AGRICOLE
Banco Santander, S.A.
Amazon.com, Inc.
SpaceXCoin USD
Credit Agricole
Berkshire Hathaway Inc.
Reinsurance Group of America, Incorporated
Google Inc.
Currencies:
United States Dollar
Euro
Swiss Franc
British Pound Sterling
Chinese Yuan
Indian Rupee
Japanese Yen
South Korean Won
Canadian Dollar
Australian Dollar
Offshore Chinese Yuan
Hong Kong Dollar
Singapore Dollar
Mexican Peso
Vietnamese Đồng
Norwegian Krone
Filipino Peso
Indonesian Rupiah
New Zealand Dollar
Thai Baht
People: