The current General Manager Western & Southern Europe at the Avaloq group will take up his new duties as of 11 August 2014. Mathias Schütz brings to this task strong IT and banking expertise together with considerable experience in setting up and managing strategic business units.

Mathias Schütz joined Avaloq in 2000. From that date, he has made a significant contribution in various management functions in sales and service delivery to the rapid growth of Avaloq from a start-up to an international leader in integrated and comprehensive solutions for wealth management, universal and retail banks. In 2008, Mathias Schütz was mandated with setting up the Asian branch of Avaloq based in Singapore, which he headed as General Manager Asia Pacific. He established a branch office in Hong Kong and built up a strong base of prestigious customers. Mathias Schütz was promoted to the executive board of the Avaloq Group in 2011. Since then, he has been responsible for the market region Western & Southern Europe.

In addition to Mathias Schütz the executive board of the new technology company will be completed as follows: Valentin Gilgen, previously Key Account Manager at Avaloq and now responsible for the development coordination; Rudolf J. Kurtz, previously Unit Manager of Projects at Raiffeisen and now responsible for the transformation of the new solution; and Adrian Töngi, previously Unit Manager Front-Services at Raiffeisen and now responsible for the area operations.

Francisco Fernandez, CEO of the Avaloq group, says: "The appointment of an Avaloq executive as the CEO of the joint venture highlights the importance that we attach to our partnership with Raiffeisen. Mathias Schütz is the ideal person for this challenging task. He brings considerable expertise in both banking and IT to the table, and has experience in successfully realising highly complex projects."

Patrik Gisel, deputy chairman of the Executive Board of Raiffeisen Switzerland, and designated president of the new company's Board of Directors, adds: "The joint technology firm is Raiffeisen's response to the challenges of the digital future. We are delighted to be able to appoint such an experienced and pragmatic manager as CEO as Mathias Schütz, who will develop the new retail banking platform for Raiffeisen in conjunction with experts from both companies."

The Board of Directors of the new company will be complemented around Klaus Rausch, CTO and member of the executive board at Avaloq and Damir Bogdan, CIO and member of the executive board at Raiffeisen Group.