The FINANCIAL — Raiffeisen Zentralbank Österreich AG (RZB) has started operating its own branch on the Iberian Peninsula.
"The primary goal of our new representative office in Madrid is to enable us to service those Spanish business customers who wish to take advantage of RZB’s network in Central and Eastern Europe," explained RZB's CEO Walter Rothensteiner. "Spanish banks do not yet have a significant presence in this region. We will therefore bring Europe’s fastest-growing markets closer to Spain."
Until today, RZB was present in six Western European financial centres. "These offices have established themselves as the primary point of contact for clients seeking to do business in Central and Eastern Europe. Spain will be the seventh bridgehead," said Herbert Stepic, deputy CEO of RZB and responsible for international business.
The representative office is headed by Claudio Novack Diez. He was born in Spain and looks back at over 25 years of experience in international banking, including positions at Chase Manhattan, Barclays and Banco Urquijo. He was responsible for the expansion of the latter bank into Latin America.
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