The new company will be named UniCredit Leasing

UniCredit Leasing and HVB Hebros Leasing, the leasing subsidiarie of UniCredit Group in Bulgaria, will be merged by end 2006. The new company will be named UniCredit Leasing and will be the strongest leasing entity on the Bulgarian market. The joint product portfolio of the new UniCredit Leasing includes leasing of cars, equipment and real estate as well as insurance brokerage and fleet management

„The strategy of the new company is based on the fact that UniCredit Leasing and HVB Hebros Leasing complement each other perfectly and their merger will increase the value and opportunities for the clients. We expand the product portfolio, as well as we utilize the channels of distribution, using the know-how and the experience of each of the existing leasing companies. The strength of UniCredit Leasing is in the unique cooperation and cross selling with the bank, which will continue with the new UniCredit Leasing and the future UniCredit Bulbank (which will be created by the merger of Bulbank, HVB Bank Biochim and Hebros Bank). We will also use the experience of HVB Hebros Leasing in direct sales and work with vendors", said Ernst Machart, currently CEO of HVB Hebros Leasing. He is designated to the same position in the new UniCredit Leasing.

As a first step of the integration the members of the management board of the merged company were designated. Thee appointments come into force after the approval of the relevant authorities. The new management board will consist of four members: apart from Ernst Machart the board also includes Stanislav Tanushev, currently deputy CEO of HVB Hebros Leasing and future deputy CEO of UniCredit Leasing; the current CEO of UniCredit Leasing Plamen Minev will be Chief Sales Officer and the CFO of HVB Hebros Leasing Metodi Tachev will be CFO of the future UniCredit Lesing