Gerhard Randa

from Wikipedia, the free encyclopedia

Gerhard Randa (born September 13, 1944 in Vienna ) was head of Bank Austria for many years .

Life

Gerhard Randa studied at what was then the University of World Trade in Vienna (today Vienna University of Economics and Business ).

He has been working in the banking sector since 1967. First he was General Director of the Austrian Länderbank , after its merger with Zentralsparkasse and Kommerzialbank to Bank Austria , he was Deputy General Director there, and from 1995 General Director of Bank Austria.

Randa achieved its greatest surprise success in 1997 when Bank Austria took over the state shares in Creditanstalt . Since Bank Austria was still a municipal savings bank at the time, with the City of Vienna as the owner of the share administration savings bank, the largest shareholder in the institute, this takeover was criticized by the national and international banking scene as a sham privatization , also in connection with the liability of the city Vienna for the institute.

Since the fall of the Iron Curtain there was among the Austrian banks a competition regarding the expansion to Eastern Europe . The risk that Randa and Bank Austria accepted with regard to Eastern European business took revenge from 1998 onwards in the form of billions in losses.

These losses in international business could only be offset in the group and in the newly created Bank-Austria-Creditanstalt-International (BACAI) through the sustained positive results from the assets taken over from Creditanstalt in BACAI and Creditanstalt itself. The raising of funds on the capital market associated with the expansion of activities in Eastern European business had already led to a shareholding structure that made a hostile takeover possible. Due to this and the now weakened profitability of Austria's largest bank, Randa began negotiations with HypoVereinsbank and other possible partners as early as 1999 .

After the merger of Bank Austria with HypoVereinsbank in 2000 , he held a management board position at HVB. Bank Austria subsequently served as the cash cow of HypoVereinsbank, which was otherwise poorly profitable due to contaminated sites.

Randa once responded to the allegations of having permanently ruined the banking landscape in Austria by remarking that he only ever acted as the executor of the shareholders . He was referring to the Central Savings Bank Shares Administration, which was owned by the SPÖ-dominated city of Vienna.

After the takeover of HVB by Unicredit , Randa joined the Management Board of the Magna Group from Frank Stronach in Toronto . There he takes care of the finance department.

In April 2012 Volksbank International AG (VBI) announced that Gerhard Randa would become a member of the VBI Supervisory Board. The name Volksbank International AG was later changed to Sberbank Europe AG. In 2016 he moved to the board of directors and became its chairman.

Awards

Web links

Individual evidence

  1. ^ Randa becomes supervisory board member of Volksbank International , derstandard.at, April 24, 2012
  2. ↑ About Sberbank
  3. ↑ Gerhard Randa becomes Sberbank boss, Die Presse of June 28, 2016 [1]
  4. ^ Website of Sberbank EUROPE AG [2]
  5. ↑ List of all decorations awarded by the Federal President for services to the Republic of Austria from 1952 (PDF; 6.9 MB)
personal data
SURNAME Randa, Gerhard
BRIEF DESCRIPTION Austrian bank manager
DATE OF BIRTH September 13, 1944
PLACE OF BIRTH Vienna