Managing Board

The managing board of Credit Europe Bank NV is jointly responsible for the consolidated management of the bank, which includes realizing the bank’s goals and strategy, and the policy and results arising thereof. The managing board is also responsible for compliance with all relevant laws and regulations, management of the risks attached to our banking activities and for the funding of Credit Europe Bank in line with the approved risk appetite.

The managing board of Credit Europe Bank NV comprises five members (status per January 2012): Enver Murat Basbay (CEO), Senol Aloglu (Deputy CEO), Umut Bayoglu (CFO), Scott Cheung (CRO), Levent Karaca (member).

Without detriment to the collective and joint responsibility, between the members of the managing board an allocation of tasks is agreed.

The Charter of the managing board can be retrieved here.

Supervisory Board

In line with corporate rules in the Netherlands, and as set forth in Credit Europe Bank's articles of association and in the Charter of the Supervisory Board, the Supervisory Board’s task is to supervise the policy of the managing board and the general affairs of the bank, and to support the managing board with advice.

The Supervisory Board of Credit Europe Bank comprises seven members per May 2012: Hector de Beaufort(chairman), Husnu Ozyegin, Fevzi Bozer, Onur Umut, Mehmet Gulesci, Murat Ozyegin and Frits Deiters.

All members of the Supervisory Board have a background and experience in banking, legal or finance. Mehmet Güleşci qualifies as financial expert as per III.3.2 of the Dutch Corporate Governance Code.

Click here to read the charter of the Supervisory Board.

The Supervisory Board is supported by four subcommittees: Audit & Risk, Corporate Governance & Nomination, Remuneration and Compliance Oversight. The main objective of each committee is as follows:

• Audit & Risk: advises the Supervisory Board on, and supervises the status of and developments in, the bank’s risk management system, internal control systems, and compliance related matters. It also performs a review of Credit Europe Bank’s financial statements and the reports of the external auditor. Moreover, it discusses the relationship with the external auditor, including his independence, remuneration and other non-accounting related activities executed for the bank.
• Corporate Governance & Nomination: advises the Supervisory Board on corporate governance developments, reviews the implementation of corporate governance principles and practices within Credit Europe Bank and advises on adjustments. It is also responsible for nominations, which involves establishing and advising on the selection criteria, profile and nomination process for new Supervisory and Managing Board members.
• Remuneration: proposes a policy and a structure relating to performance evaluation and target setting for a certain level of senior employees working in Credit Europe Bank and its subsidiaries, and oversees the implementation of relevant policies for the Supervisory Board.
• Compliance Oversight: keeps the Supervisory Board informed and updated on developments and/or best practices in compliance and reviews these developments and/or best practices for applicability to the bank. It further reviews the implementation of Credit Europe Bank’s compliance principles and Compliance Program and advises on adjustments.

Each committee has its own charter, approved by the Supervisory Board.

The members of the respective committees are:

For more information on the number of meetings held and issues discussed in a given year by a subcommittee, reference is made to the respective ‘Report of the Supervisory Board’ in the bank’s annual report.