Ex-head of PrivatBank joins Sense Bank supervisory board

The Cabinet of Ministers appointed the former head of state-owned PrivatBank, Austrian banker Gerhard Bösch, as an independent member of the supervisory board of Sense Bank. He replaces Mykola Hladyshenko, whose powers were terminated earlier in August.

The corresponding order No. 864-r was adopted by the government on August 31, 2026. The document amends the composition of the supervisory board of the state bank, approved by the Cabinet of Ministers in June 2025.

According to the order, Bösch is appointed specifically as an independent member of the supervisory board of Sense Bank. At the same time, Mykola Hladyshenko is removed from the board, whose powers were terminated by a separate government order dated August 21, 2026, No. 836.

The reason for the termination of Hladyshenko's powers is not specified by the Cabinet of Ministers in the document published on August 31. He was previously an independent member and chaired the supervisory board of Sense Bank.

Bösch headed PrivatBank for more than three years

Gerhard Bösch is well known to the Ukrainian banking market. In May 2021, the supervisory board of PrivatBank elected him as Chairman of the Board of the largest bank in Ukraine, and on June 8 of that year, the appointment was approved by the National Bank.

At that time, Bösch had about 35 years of banking experience, of which about 15 years — in senior positions in Ukraine. Before joining PrivatBank, he worked for a long time in the Raiffeisen group and the Ukrainian Raiffeisen Bank Aval.

In PrivatBank, Bösch headed the Board, including in the first years of the full-scale war. In June 2024, the bank's supervisory board, announcing a new competition for the position of Chairman of the Board, noted the growth of the client base and financial results of the bank during his leadership. According to PrivatBank itself, the results obtained allowed the state to return more than 155 billion UAH invested during the nationalization of the institution.

Bösch's powers as head of PrivatBank ended on November 1, 2024. His successor was elected Swedish banker Mikael Björknert, who, after approval by the National Bank, officially assumed duties in January 2025.

Sense Bank is being prepared for sale

Sense Bank has been state-owned since July 2023. Until 2022, the institution operated under the name Alfa-Bank Ukraine.

The National Bank in July 2023 decided to withdraw the systemically important Sense Bank from the market due to sanctions against the owners of substantial participation. After that, the state bought 100% of the bank's shares. The transition of the bank to state ownership was supposed to preserve its stable operation and protect the interests of depositors and other creditors.

Currently, the sole shareholder of Sense Bank is the state. The functions of the supreme management body of the state bank are performed by the Cabinet of Ministers.

Bösch's appointment takes place against the background of the state's preparation for the privatization of Sense Bank. In March 2026, the Ministry of Finance announced a tender for the selection of an advisor for the sale of state stakes in Sense Bank and Ukrgasbank. Among the tasks of such an advisor is increasing the value of the stakes, searching for potential investors, and supporting the stages of the sale.

At the same time, in the order on Bösch's appointment, the government does not directly link the personnel decision with the future sale of the bank. PrivatBank previously noted that the banker has experience in managing large bank transformation projects, including privatization processes.

Based on materials from: Cabinet of Ministers of Ukraine, PrivatBank, Ministry of Finance of Ukraine