News 4. 8. 2016

NLB Supervisory Board To Be Completed with Four New Members

At the 27th General Meeting of Shareholders of Nova Ljubljanska Banka (NLB) which was held on 4 August 2016, in accordance with powers granted by the Slovenian Sovereign Holding Act (ZSDH-1) and in accordance with SSH Corporate Governance Code for Companies with Capital Assets of the State and the Corporate Governance Code for Joint Stock Companies, due to the resignation of four members of NLB Supervisory Board, Slovenian Sovereign Holding (SSH) voted in favour of the candidacy of the following applicants: Matjaž Titan, Aleksander Bayr, David Kastelic and Simon Eric David.


On 15 April 2016, Janko Gedrih, the then President, Anton Macuh and Anton Ribnikar, both Members of NLB Supervisory Board submitted their resignation notices.


Immediately after being informed of the resignation notices of the said Members of NLB Supervisory Board, SSH launched procedures for filling up the Supervisory Board vacancies, using all the statutory stipulated nomination channels. On 20 April 2016, the Open Public Invitation was published in Delo, the Slovenian newspaper, inviting candidates interested in applying for the position of a NLB Supervisory Board Member to take part in the process; nine candidates applied for the positions advertised. In addition to candidates who applied through the public invitation, additional candidates were selected from the SSH List of Potential SB Members by the SSH Management Board and the SSH Personnel Committee and were then nominated to take part in regular nomination procedures.


On 2 August 2016, SSH was informed of the resignation notice by Tit Erker, the Member of NLB Supervisory Board.


On the basis of structured interviews and additional documentation submitted by candidates, eight candidates were nominated by the SSH Personnel Committee to take part in the next round of the process; SSH submitted their applications to NLB for additional verification. The relevant professional services of NLB carried out their own fit&proper evaluation of the candidates proposed and drew up a list of four candidates satisfying the NLB internal criteria of a Supervisory Board Member Nominee.


The terms of office of the NLB Supervisory Board Members - elect starts running from the date of their appointment and lasts until the conclusion of the Annual General Meeting of Shareholders at which the distribution of profit for appropriation for the fourth financial year after its election is decided upon, in which regard, the year when a certain member is appointed is considered to be the first year of the service.


The presentation of candidates for the NLB Supervisory Board is provided below, in accordance of Article 297 of ZGD-1.


Matjaž Titan

holds the University Degree in Law and the professional title “univerzitetni diplomirani pravnik" and has served as the Head of Legal Affairs Department at KDD, d. d., for many years, having thus obtained his professional experience and knowledge in the operation of financial markets and clearing mechanisms. He has worked as an advisor to several banks, including in the IPO process of NKBM. He currently works for the Bank of Slovenia, within the scope of the National User Group for the integration of the Slovenian capital markets into T28. He was the director of Licet and the member of the Supervisory Board of Daj Dam and works as an arbitrator for the Slovenian Investment Fund Association.


David Kastelic

holds the University Degree in Mechanical Engineering and the Master’s Degree in Marketing. Until 1998, he was employed at Philip Morris International, Slovenia, and since then, his professional career has been linked to Zavarovalnica Maribor. He has hold several managerial positions at the above mentioned insurance company for the last 12 years, ranging from the Executive Officer to the Member of the Management Board and the President of the Management Board, the position he still holds today. He has obtained his leadership skills by working as the Member of the Management Board of Sava osiguranje, Serbia, as the Member of the Management Board of Tabak in Macedonia and as the President of the Supervisory Board of Velebit Životno osiguranje. Currently, he also holds the position of the Vice-President of FC Maribor, he is the Member of the Supervisory Board of Nuclear Insurance and Reinsurance Pool and is the Honorary Consul of the Republic of Brazil to Slovenia.


Alexander Bayr

holds the University Degree in Economics and has long-standing experience in trade and banking sector. He currently works as the Director of Sales at BAWAG in Vienna. He has hold several functions during his career, particularly executive functions at various banks in several European countries (Slovakia, Austria, Slovenia). He was the President of the Management Board of Bawag Slovenia and the member of the Slovak-Austrian Chamber of Commerce. 


David Eric Simon

holds the University Degree in Economics and has long-standing experience in banking, financial operations and corporate governance. His work experience include financial restructuring services (CSO Bank)and independent banking advisory services (Morgan Grenfeel, PwC). He is the Member of the Supervisory Board of Czeck Aerospace Industries. He held executive functions in American Express Bank, Byblos Bank and Commercial Bank of Kuwait, and worked as an independent advisor of USAID and EBRD in regard to the development of the banking system in the Central and Eastern Europe. He currently holds the function of the President of the Supervisory Board of Jihlavan a.s..



It is believed that the elected NLB Supervisory Board Members will be capable of facing the most demanding professional challenges of NLB. SSH expects of all NLB Supervisory Board Members to achieve the realisation of NLB’s strategic and business goals by pursuing an efficient and professional supervision of the bank’s operations, to prepare NLB for successful privatisation, working hand in hand with the NLB Management Board, and to ensure that all processes run smoothly. 

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