Austrian group Erste announced on Thursday, September 13, that its CEO Andreas Treichl will leave the group’s helm at the end of 2019.

He will be replaced by Berhard Spalt, currently a risk director at Erste Bank Austria. Spalt was also a risk director at Erste’s Romanian subsidiary BCR in 2017.

Treichl, who is 66, has been Chairman of the Board of Erste Bank since 1997 and CEO of Erste Group Bank since 2008. Under his leadership, Erste has evolved from a local bank to one of the biggest banking groups in Central and Eastern Europe.

The group entered the Romanian market in 2005, when it bought the biggest local bank, BCR, in a EUR 3.75 billion, one of the biggest transactions ever closed in Romania.

editor@romania-insider.com

(photo source: Erste Group)