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Raiffeisen sets news conference after board meeting
June 7, 2013 / 9:22 AM / 4 years ago

Raiffeisen sets news conference after board meeting

VIENNA, June 7 (Reuters) - Austrian lender Raiffeisen Bank International has called a news conference for 1030 GMT to discuss the outcome of a supervisory board meeting that it had said would select a new chief executive. It gave no more details.

Herbert Stepic, 66, last month stepped down as CEO of central and eastern Europe’s second-biggest bank.

He has denied wrongdoing in using front companies in the Caribbean and Asia to buy three apartments in Singapore and said he decided to quit to spare the bank a damaging debate about his personal investments.

His departure may trigger structural changes or asset sales at RBI, which is 78 percent owned by Raiffeisen Zentralbank , controlled by eight provincial Raiffeisen landesbanks which are in turn owned by hundreds of local cooperative banks. (Reporting by Michael Shields; Editing by Greg Mahlich)

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