NLB

Board/Management Information • Feb 21, 2025

Category: Inside information

Published on: SEOnet

Published at:  20.02.2025 14:55

Published document ID: INI-43/25

INI-42/25

NLB, d. d., Ljubljana

NLB's Supervisory Board Appoints New Management Board Member

Pursuant to the Rules of the Ljubljana Stock Exchange and Article158 of the Market in Financial Instruments Act, relating to the Article 17 of the Regulation (EU) No 596/2014, NLB d.d., Trg republike 2, 1000 Ljubljana announces:

In a year that kicked off the implementation of its new business strategy, NLB further strengthens its leadership team. Upon the recommendation of the Management Board, the Supervisory Board has appointed Reinhard Höll as the seventh member of the Management Board. Following the necessary approvals, he will assume the role of Chief Transformation Officer (CTO), overseeing the acceleration of the mobile/digital first business model transition of NLB d.d. and its Group members.

In 2024, NLB defined and presented its new Group business strategy, which outlines an ambitious and transformational set of targets. With an in-depth understanding of the business environment and careful consideration of risks, the new business strategy draws a path that will ensure the long-term development of NLB Group and, indirectly, the wider economic environment in Group’s home region, Southeastern Europe. The strategy foresees doubling NLB Group’s balance sheet, revenues, and profits by 2030, to reach more than EUR 50 billion in total assets, recurring revenues of more than EUR 2 billion, and a targeted profit of more than EUR 1 billion, combining organic growth with selected M&As in SEE.

Given the challenges the Group will face during its Strategy implementation period lasting until 2030, requiring rapid positive impact in transforming NLB’s processes, and pursuing the defined impact milestones, the need for a CTO became clearly outlined. Pending approvals, the new CTO will focus on driving the project management processes, as well as (at the end of the transition period) the IT governance to help the Group achieve ambitious IT strategy targets. Those targets include providing the foundation for a truly cross-functional agile operating model, building Group-wide capabilities for a mobile/digital first bank around architectural enablers, upgrading the infrastructure to a highly resilient hybrid-cloud model, establishing a foundation for data-driven decision-making and (Gen)AI, and becoming the powerhouse of the region for digital talent, originating at least 90% of new regular transactions in an E2E digitized way.

“In line with NLB Group’s ambitious transformation goals, the Supervisory Board agrees with Management Board’s proposed expansion of its leadership team, resulting in the appointment of a Chief Transformation Officer. This key addition will drive impactful change, strengthen processes, and help NLB Group achieve its strategic goals, building a future-ready, agile organisation, and elevate the Group among the best-of-peers within the industry,” commented President of the NLB Supervisory Board, Primož Karpe.

Reinhard Höll (1983) is an experienced professional with 20 years of background in international banking groups, and as well a consultancy firm with expertise in retail and corporate banking, growth transformation, technology modernisation, organisational design, operating models, and risk management. He began his career at Commerzbank (2004), where he focused mainly on corporate banking, before transferring to Lehman Brothers (2007) and later to Standard Bank (2008), where he began working in his role as a Credit Portfolio Manager in its Treasury and Capital Management team in London and Johannesburg. He joined the management consulting firm McKinsey & Company in 2012, where he currently holds the position of a Partner, serving banking, payment players, fintechs, and technology players, as well as investors across Europe. Furthermore, he also leads McKinsey’s Financial Services Private Capital work in Europe.

NLB is currently led by a six-member Management Board, consisting of Blaž Brodnjak, CEO; Archibald Kremser, CFO; Andreas Burkhardt, CRO; Hedvika Usenik, CMO Retail; Andrej Lasič, CIB; and Antonio Argir, CGPO.

This announcement will be available on the company’s website (www.nlbgroup.com) as of 20 February 2025.

Investor Relations

NLB d.d., Ljubljana

Date: 21.02.2025