Events after the Balance Sheet Date
Changes in the Managing Board
In December 2009, Joseph Laughlin announced that he would be retiring at the end of the year. Sanjay Sharma took over as Chief Operating Officer on 1 January 2010. Sanjay Sharma can draw on many years of experience at Barclays Bank plc and has been Managing Director of Operations at BAWAG P.S.K. since August 2008.
Carsten Samusch, who assumed responsibility for the Treasury division as a Board member in August 2007, announced in January 2010 that he would not be seeking the extension of his contract, which expires in May 2010, for personal reasons. The search for a suitable successor is underway.
Equity Holdings
BAWAG P.S.K. Versicherung
In January 2010, the Bank sold 24.99 per cent of its stake in BAWAG P.S.K. Versicherung AG, thus reducing its stake from 49.99 per cent to 25 per cent plus one share.