BAWAG names Cerberus adviser Abuzaakouk CFO

VIENNA Wed Dec 18, 2013 5:48am EST

VIENNA Dec 18 (Reuters) - Austrian lender BAWAG PSK has named Anas Abuzaakouk, the head of its restructuring and strategy division, as chief financial officer as of the start of 2014, it said on Wednesday.

Abuzaakouk, 36, joined BAWAG in 2010 as an adviser from majority owner Cerberus Capital Management. He had previously worked at General Electric Co in a variety of executive roles, it said in a statement.

BAWAG is one of six Austrian banks to come under direct supervision of the European Central Bank next year. It is in the process of repaying state aid it got during the financial crisis and aims to have at least a 9 percent common equity tier 1 capital ratio by the end of this year.

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.