Govt Fills Non-Executive Board for Bad Bank

Politics,  21 Feb 2013  / By STA

The government has substituted Carl-John Lindgren for one of the two Slovenian non-executive directors of the Bank Assets Management Company (BAMC) appointed a fortnight ago. This completes the line-up of non-executive directors of the bad bank in agreement with the IMF, EBRD and the European Central Bank.

Will Bad Bank rescue existing bad banks in Slovenia? (Photo: NLB)
Will Bad Bank rescue existing bad banks in Slovenia? (Photo: NLB)

The government appointed Lindgren on Thursday in place of Finance Ministry official Monika Pintar Mesarič. He joins Swedish experts Arne Berggren and Lars Nyberg and Finance Ministry State Secretary Andrej Šircelj.

Under the bank stability enhancement act, the BAMC will be run by a seven-strong management board to which four non-executive directors are appointed by the government and the remaining executive directors will be selected based on an international call for applications.

All seven board members will be appointed for the period until the end of 2017, when the company will cease to exist.

Lindgren has a Master's degree in economics and has served as a consultant to international financial institutions, head of the Government Communication Office Anže Logar told reporters after the weekly government session.

The non-executive directors will now issue a call for applications to fill the posts of executive directors, which needs to be completed by the end of June.

Asked whether the executive directors would be mostly foreigners, Logar said that would depend on the received applications.
 

Tags: Slovenia, economy, bad bank, EBRD, IMF, ECB, directors, Bank Assets Management Company (BAMC), banking sector


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Carl, 08.03.2013 ob 11:50

Mr Lars Nyberg, who is appointed to the BAMC, is the ex Vice-Governor of the Swedish Central Bank. He ranks amongst the most senior and experienced central bankers in Europe. He is not the CEO from Telia Sonera!

Kaiser.Economist, 22.02.2013 ob 18:34

All banks are Bad. Propping up, bailing out Slovenian banks will condemn this country to a deepening recession, like Greece, you heard it here first. Follow Kaiser.economist@gmail.com for up to date financial news.
2% negative GDP this year now predicted, here we go, hold on to your hats!



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