BCR Supervisory Board reshuffles Management Board

• Jonathan Locke is the new Chief Risk Officer (CRO) of BCR
• Michael Beitz, currently CRO, is deployed to management of Remedial, Restructuring and Recovery Business line 
• Corporate and Markets activities are consolidated under VP Sergiu Manea

The Supervisory Board of Banca Comerciala Romana (BCR) took several decisions regarding the structure and composition of BCR's Management Board (Executive Committee) in order to align responsibilities with the readjusted organizational structures of the Bank. 

Jonathan Locke was appointed to the position of Chief Risk Officer, pending approval of National Bank of Romania. Mr. Locke has more than 20 years of experience in advising and working for financial institutions in the UK, Central and South Eastern Europe and Russia. For the last 10 years he has managed risk and governance functions within the international network of Intesa SanPaolo, in Slovakia, Croatia and Hungary.

Michael Beitz is deployed solely to management of the Remedial, Restructuring and Recovery business line. BCR shall further build upon Mr. Beitz's track record and skills to achieve significant asset quality improvement, a key driver of returning BCR Group to profitability and sustainable growth.

Corporate and Markets activities will be consolidated under Sergiu Manea, currently Vice-President for Treasury, Capital Markets & Group Large Corporate, within the context of a new corporate business model. Mr. Manea shall assume responsibility for all units under the Corporate business line and BCR's corporate franchise in Romania.

Mr. Wolfgang Schoiswohl, currently Vice-President for Corporate Banking, shall assume new role within Erste Group Holding. 

The changes in a nutshell: