The member banks of Raiffeisen Group will take a stronger part in controlling group headquarters and smaller members will see their say enhanced through a new decision-making process.
Under the guidelines for the new general meeting that replaces the current structure, the 229 associated banks will have one vote each, Raiffeisen said in a statement (in German). Currently, bigger members have a bigger say. Delegates decided on the changes over the weekend in Zurich.
The meeting also agreed to add a new advisory board with 21 members of regional associations to help control group headquarters in St. Gallen. The new advisory group will have no right to issue guidelines to the supervisory board.
New Group Strategy
Having decided on the new decision-making structure, the board of Raiffeisen Switzerland will now embark on designing a new group strategy. It will take issue with challenges facing a bank such as Raiffeisen, including negative interest, diversification and new customer demands.
Member banks will be involved in the development of the new strategy, which the group expects to present at the annual general meeting in June, 2020.
