PRESS RELEASE 2011-12-19

Georg Winckler appointed new president of the “Association – DIE ERSTE österreichische Spar-Casse Privatstiftung”

At the last association meeting, the savings bank association “Verein – DIE ERSTE österreichische Spar-Casse Privatstiftung” appointed a new president, Dr. Georg Winckler, who had been rector of Vienna University until September 2011. Winckler will succeed Dr. Karl Korinek, who had to resign from this position due to health problems. Dr. Johanna Rachinger, director of the Austrian National Library, was appointed Winckler’s first deputy.
Georg Winckler appointed new president of the "Association - DIE ERSTE österreichische Spar-Casse Privatstiftung"

Furthermore, the association designated Georg Winckler chairman of the Supervisory Board of DIE ERSTE österreichische Spar-Casse Privatstiftung (ERSTE Foundation). Elections will be held at the next Supervisory Board meeting.

In his inaugural speech Georg Winckler said: “I feel particularly privileged to be given the opportunity to head this institution. Our association was founded in 1819, when – in times of radical changes – it was imperative to develop a secure financial institution open to the general public. I will put all my efforts into making sure that the savings bank idea continues to have a positive impact on society today.”

Karl Korinek had been the association’s president and chairman of the Supervisory Board since 2008. At the association meeting he was recognised for his achievements and appointed Honorary President of the association.

Founded by Viennese citizens as Erste oesterreichische Spar-Casse in the Viennese district of Leopoldstadt in 1819, the association opened Austria’s first savings bank in the same year. Today it is the highest body of ERSTE Foundation, the legal successor to the Erste österreichische Spar-Casse.

ERSTE Foundation is the major shareholder of Erste Group and invests in the development of societies in Austria and Central and South Eastern Europe. It supports social participation and civil-society engagement; it aims to bring people together and to disseminate knowledge of the recent history of a region that has been undergoing dramatic changes since 1989. As an active foundation, it develops its own projects within the framework of three programmes: Social Development, Culture and Europe. For further information, visit