Avaloq Sourcing (Deutschland) AG appoints Andreas Bittner as Managing Director

Berlin - 1 March 2013

Andreas Bittner is appointed Managing Director by Avaloq Sourcing (Deutschland) AG. The experienced manager possesses remarkable industry and management experience and has commenced his duties on March 1, 2013. The Avaloq Sourcing (Deutschland) AG is a joint venture between the Swiss banking software specialists Avaloq (51%) and the fee-based advisory specialist quirin bank AG (49%). The company as of today provides independent BPO services for private and foreign banks in Germany. Services include securities settlement, payment handling and the provision of complete banking systems. The executive board is complemented by Stefan Spannagl, CEO banking operations at quirin bank AG.

In Andreas Bittner, the Avaloq Sourcing (Deutschland) AG has acquired the services of a proven manager with considerable know-how of the German financial industry. Most recently Bittner held the position of COO and Managing Director of Fondsdepot Bank GmbH and Managing Director of its 100 per cent subsidiary Xchanging Investment Gesellschaft mbH (XISG mhH). In this position he was responsible for over 500 employees from the departments Investment Account Management, Production Control and Management, Implementation, IT Production, and Purchasing and Infrastructure. Prior to that, Bittner was Managing Director at ELAXY Bittner GmbH. Other stations in his career were Accenture and DAB bank Munich.

As Managing Director, Bittner is responsible for the divisions Sales and Key Account Management. In addition, his field of responsibility also includes the corporate functions Finance, HR as well as Legal and Compliance. Bittner will dedicate himself to the key areas distribution, support of existing clients and the BPO and ASP business in Germany.

Alongside Bittner the executive board of Avaloq Sourcing (Deutschland) AG includes Stefan Spannagl. In his role, Spannagl is responsible for the areas Bank Settlement, IT Operations, and Projects and Processes. The professional banker excels due to decades of experience in the German financial and BPO market. He will continue his position as a member of the board of quirin bank, where until now he was responsible for the bank’s operation and the development of the business area Business Process Outsourcing (BPO). Spannagl and Bittner complement each other ideally in their knowledge, leadership and market experience. The continuity of the services provided to the existing clients is therefore guaranteed. The supervisory board consists of Martin Frick (chairman of the supervisory board / member of the executive board at Avaloq), Enrico Ardielli (member of the executive board at Avaloq) and Karl Matthäus Schmidt (CEO of quirin bank AG).

The client base of Avaloq Sourcing (Deutschland) AG currently exists of Bank Julius Bär Europa AG, Tradegate AG Wertpapierhandelsbank, Bank Vontobel Europe AG, V-Bank AG and quirin bank. The main goal is the further development of the German private banking market.

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