PrivatBank selects former Raiffeisen Bank Aval manager as new CEO

The Supervisory Board of Ukraine’s largest bank has appointed the Austrian Gerhard Bosch to be its new chief executive, the bank’s press service announced on May 27.

The appointment is a legal victory for PrivatBank, whose search for a new head had been halted by the Kyiv Commercial Court following a lawsuit by the bank’s labor union. The union complained about the closed nature of the competition and the court issued an injunction blocking the selection until the lawsuit could be resolved.