THE AUSTRIAN NATIONAL BANK'S NEW GOVERNING BOARD

UNCLAS VIENNA 000673 SIPDIS TREASURY FOR OASIA/ICB/VIMAL ATUKORALA TREASURY PLEASE PASS TO OCC/EILEEN SIEGEL, FEDERAL RESERVE, AND SEC/E.JACOBS E.O. 12958: N/A TAGS: EFIN PGOV EUN AU SUBJECT: THE AUSTRIAN NATIONAL BANK'S NEW GOVERNING BOARD ¶1. The GoA recently announced the members of the new Governing Board for the Austrian National Bank (ANB). Ewald Nowotny, CEO of BAWAG P.S.K. Bank, will be the new Governor. Vice-Governor Wolfgang Duchatczek and Director Peter Zoellner were reappointed to the board, and Andreas Ittner will be the fourth board member. President Heinz Fischer must still approve the appointments, which are five-year terms. The board will take office September 1, 2008. In the interim, the current board of Governor Klaus Liebscher, Vice-Governor Duchatczek, Director Zoellner and outgoing Director Josef Christl will remain in office. ¶2. (SBU) Biographic Information: Ewald Nowotny: Born June 28, 1944 in Vienna; holds a Doctorate in Law from Vienna University. Professional Career: 1967 - 1971 Lecturer and assistant at University of Linz 1970 PhD (Habilitation) in Economics 1971 - 1972 Fellow at Harvard University 1973 Full Professor for Economics and Public Finance, Technical University Darmstadt, Germany 1974 - 1979 Non-executive member, later President, of the Board of Oesterreichische Postsparkasse (P.S.K.) 1974 - 1982 Full Professor for Economics and Public Finance, University of Linz 1979 - 1999 Member of Parliament (Social Democratic Party) 1982 - 1999 Full Professor for Economics, Chair Institute for Banking and Monetary Policy, Vienna Economic University 1985 - 1999 Member of Supervisory boards of Wiener Staedtische insurance company and Linz AG 1985 - 1999 Chairman of Parliament's Finance Committee 1989 - 1999 Member of the Parliamentary Assembly, Western European Union 1999 - 2003 Vice-President (member of Management Committee) of European Investment Bank, Luxembourg 2003 - 2005 Professor and Vice Rector, Vienna Economic University 2003 - 2006 Member of supervisory board of Dexia - Kommunalkredit AG bank 2003 - Present Member of supervisory boards of Linz AG and VAMED AG 2006 - 2007 CEO of BAWAG P.S.K. Bank, Austria's fourth largest bank 2008 - Present Member of the supervisoryQrd of BAWAG P.S.K. Bank Other activities: Member of the Board of the Austrian Economic Association (1996/97 President) Member of the Board of Institute for Advanced Studies, Vienna (since 2003 Vice President) President of the Austrian Technion Society (1992 - 1999) and Honorary Governor, Technion University, Haifa. Nowotny is married. He speaks excellent English. Political affiliation: Social Democratic Party. Wolfgang Duchatczek: Born September 21, 1949 in Vienna; holds a Doctorate in Economics from the Vienna Economic University. Professional Career: 1970 - 1972 Trainee at IBM 1973 - 1974 Employee at pharmaceutical company Berger 1975 - 1976 Employee at Oesterreichische Laenderbank 1976 - 1977 Job at the ANB's foreign office 1978 - 1981 Staff member at the ANB President's office 1982 - 1986 Head of the ANB President's office 1987 - 1991 Deputy Director of the ANB's foreign office 1992 - 1997 Director of the ANB's foreign office 1997 - 2003 Member of the ANB's Governing Board 2003 - Present Vice-Governor of the ANB Duchatczek is married. He speaks excellent English. Party affiliation: People's Party. Peter Zoellner: Born May 16, 1957 in Eppenstein, Styria; holds a Doctorate in Economics from the Vienna Economic University. Professional Career: 1980 - 1987 Employee at the ANB's banking department 1985 - 1987 Lecturer at the Vienna Economic University 1987 - 1991 ANB representative in New York and Consul for Financial Affairs of Austria's Consulate General office in New York 1991 - 1996 Economic policy advisor to the Federal Chancellor 1996 - 1998 Treasury director at ANB 1998 - Present Member of the ANB's Governing Board Zoellner is married. He speaks excellent English. Political affiliation: Social Democratic Party. Andreas Ittner: Born September 29, 1958 in Vienna; holds a Master's degree in Business Administration from the Vienna Economic University. Professional Career: 1983 - 1987 Employee at the ANB'S Banking System Analysis Division 1987 - 1997 Head of the ANB Governor's office Since 1997 Director of the ANB'S section Financial Institutions and Markets In addition to the above, Ittner holds the following other functions: member of the bureau o CEBS (Committee of European Banking supervisors since 2004, Chairman of the Working Group on Developments in Banking (WGBD) within the ESZB since 201, alternate member in the Banking Supervision ommittee (BSC) of the ESCB since 1998, member ofthe supervisory board of the Austrian Financial arket Authority (FMA) since 2001, Vice-President ofthe A-Sit (Austria Secure Information TechnologyCenter Austria) since 1999, and member of the Financial Market Committee pursuant to the Austrian Financial Market Authority Act since 2002. Ittner speaks English. Party affiliation: People's Party. KILNER