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Dr. Michael Buhl will become new member of the Board of Wiener Börse AG. He will succeed Dr. Erich Obersteiner, who wished to resign from his position. Dr. Michael Buhl, 45, has a long lasting experience in the international Securities and Investment Banking business. As a project manager he helped to establish the Austrian Derivatives market (ÖTOB) at Creditanstalt Bank (1987-1995), from 1996 to January 1999 he worked as Managing Director and Head of Securities at CA-IB Investment Bank Since February 1999 he is Managing Director and Head of Investment Banking at Erste Bank. <
The Supervisory Board has confirmed Dr. Stefan Zapotocky in his position as member of the Board of Wiener Börse AG.
The Supervisory Board endorsed Wiener Börse AG’s successful strategy to act as a customer and market oriented provider of financial services. For 2004, the company expects the best corporate earnings since its formation in 1999 with an estimated ROE (Return of Equity) of more than 20% (2003: 9%).
The Supervisory Board decided to pursue the strategy of establishing a Central European group of Exchanges, which was first implemented with the successful acquisition of Budapest Stock Exchange in May (Jan-Jun 2004: 2, 55 Mio. EUR; Jan-Jun 2003: 0, 37 Mio. EUR).
Ms. Barbara Wösner, MBA will, in addition to her current position as Head of Marketing & Acquisition at Wiener Börse AG, be designated as Member of the Management Board of Budapest Stock Exchange.
