Varengold Bank AG announced that Mr. Edo Barac has irrevocably resigned his position as a member of the Supervisory Board of the company with effect from 31st March 2016. On application of the Management Board, the Local Court Hamburg appointed Mr. Alexander Koerner from Langenselbold as member of the Supervisory Board by resolution of 1st April 2016. Mr. Koerner is CEO of GreenShield Capital GmbH and he has obtained specific experience in the field of international finance and capital markets.