FINANCE - BANKS

Governance

Raiffeisen votes new board of directors



Guy Hoffmann, Chairman of the Board of Directors of Banque Raiffeisen, is surrounded by a new team of directors. (Photo: Nader Ghavami/Archives Maison Moderne)

Guy Hoffmann, Chairman of the Board of Directors of Banque Raiffeisen, is surrounded by a new team of directors. (Photo: Nader Ghavami/Archives Maison Moderne)

The cooperative bank Raiffeisen has elected a new board of directors, giving four seats to representatives of the so-called “Beirat”, an advisory body set up two years ago.

The Beirat aims to better connect the bank with its members and customers. It counts around 20 members from different activities and serves as an “information, relay and exchange organ,” the bank said in a statement.

The board will continue to be chaired by Guy Hoffmann, who took over the position vacated by Ernest Cravatte on 1 November 2020.

Subject to regulatory approval, the Raiffeisen board of directors will also include Manuel Baldauff (founder of Value Associates, member of the Beirat), Romain Bausch (independent director), Yves Biewer (chairman of Raiffeisen’s executive board), John Bour (former member of the Raiffeisen executive board), Marc Hentgen (member of the Beirat, Advanzia Bank), Carlo Hess (entrepreneur, member of the Beirat), Claude Pundel (company director), Marc Reiners (Chairman Luxlait), Raymond Schadeck (independent director), Camille Schrenger (member of the Beirat, farmer and insurance agent), Claude Strasser (Managing Director of Post Luxembourg) and Diane Wolter (independent director).

The composition of the board also takes into account "the dimension of continuity,” said the bank, explaining that it ensures that a sufficient number of directors have a history and a broad knowledge of Raiffeisen, its operations, its business model and its values.

"With these appointments, Banque Raiffeisen intends to play an even more important socio-economic role on the Luxembourg scene, with regard to both professional and private clients, and to strengthen its responsible commitment to a sustainable transition while respecting the cooperative values which are part of our DNA,” Hoffmann said in a press release from the bank.