OREANDA-NEWS. On September 09, 2008 Home Credit & Finance Bank (“HCFB” or “the Bank”), rated Moody’s Ba3/NP/D-, S&P B+/Stable/B, announced that Mr. Ivan Svitek has been appointed as Chief Executive Officer, reported the press-centre of HCFB.

Reporting to Alexander Labak, the Chief Executive of Home Credit Group, Mr Svitek will be responsible for the HCFB's strategy in Russia, as well the Bank's operational activities and investment policy. Since November 2007, Jiri Smejc, a co-owner of PPF Group, has been serving as the Bank's Acting CEO.

Ivan Svitek has a distinguished career at GE with years of strategic and operational experience in financial services and consumer products. His background covers the FMCG industry, public service sector as well as banking and consumer finance. He has worked across 19 diverse markets across Europe and Latin America and his proven track record includes re-organizational and change management programmes.

In Brazil, for example, where Mr. Svitek spent last five years as President and CEO of the GE Money Bank (Sao Paolo, Brazil), he transformed the bank?s business strategy from a one product to a highly successful multi-product/multi-channel distribution company.

Commenting on the appointment, Jiri Smejc, PPF Group shareholder and Chairman of the Board of Home Credit & Finance Bank said: "I am delighted that such a high-level professional like Ivan Svitek is joining the Home Credit Group.

HCFB is a highly successful, fast growing retail bank in Russia and his extensive experience gained from the financial markets, combined with his track record of managing several cross-cultural teams, will enable the Bank to capitalize on the opportunities that lie ahead. I am confident that Ivan Svitek's experience as well as his managerial skills will help facilitate achieving our goals in growing the business and improving the quality of our services".

Says Ivan Svitek: "I am thrilled to be joining such a high quality professional team at Home Credit & Finance Bank. HCFB has a great development potential in the Russian market and I am certain that we will be able to accomplish our stated strategic objectives and strengthen our leadership position in the Russian banking market".

Ivan Svitek's CV:
D.O.B. October 15, 1967 (Prague)

Graduated in 1990 from Claremont McKenna College (California, USA) with BSc degree in Economics and Politics and in 1994, gained an MBA in Finance at INSEAD (France).

1998-2008 - General Electric-Capital Services:- latterly as Chief Financial Officer, Deputy Chairman of Management Board, Deputy CEO at GE Capital Bank (Prague), Chief GE Consumer Finance (Dublin), President and CEO at GE Money Bank (Sao Paolo).

1994-1998 - Pepsi-Cola International:- Manager Financial Planning (Vienna), Planning Manager (Prague), Financial Controller and the company's official representative in the Czech Republic.

1993-1994 - Citibank:- Manager at the Financial Markets Department (Prague).

1991-1992 - Czechoslovak Ministry of Finance: Advisor to the Minister (Prague).