33-YEAR-OLD GERMAN LADY HEADS PROCREDIT BANK
Susane Deker will succeed Christoff Freitag as Chairperson of the Mangement Board and Executive Director of ProCredit Bank. The replacement is part of the managerial reshuffling, made by the financial institution's major shareholders - Commerzbank, the European Bank for Reconstruction and Development (EBRD), Deutsche Investitions und Entwicklung Gesellschaft, and the International Financial Corporation (which is within the World Bank's group). The replacement is in fact connected with the changes in the managerial teams of two other banks - the Russian bank for micro credits KMB Bank and the Serbian Micro-financing Bank of Yugoslavia.Prior her appointment in Sofia the 33-year-old Susane Deker was Deputy Chairperson of KMB Bank's Management Board and before taking over that position she was employed at the German BHF Bank.Christoff Freitag who headed ProCredit Bank since its establishment in June 2001, will continue his career as CEO of Micro-financing Bank of Yugoslavia, in which Commerzmank and EBRD are major shareholders. The two financial institutions have set up in the East European countries a network of banks, specialized in the allocation of micro credits.