The Cabinet of Ministers of Ukraine has ordered the inclusion of former PrivatBank Chairman Gerhard Besch in the Supervisory Board of the state-owned Sense Bank. This was reported by RBC-Ukraine, citing the corresponding government decree. Besch will serve as an independent member of the board, which means he has no corporate or state ties to the bank and provides an additional layer of oversight over the credit institution's strategic decisions.
Who Replaced Whom: A Personnel Change Against the Backdrop of the 'Forrest Gump' Case
Besch's appointment is a direct consequence of the removal of the previous Chairman of Sense Bank's Supervisory Board, Nikolai Hladyshchenko, whose mandate was terminated by a government decree dated August 21, 2026. According to sources, the removal took place against the backdrop of the high-profile 'Forrest Gump' case, in the course of which the Cabinet of Ministers also initiated the resignation of the bank's chairman. Thus, two significant personnel changes have occurred in the management of the state credit institution within a short period of time.
Besch's Career: From Raiffeisen Bank Aval to PrivatBank
Gerhard Besch is an experienced banking manager with many years of experience in the Ukrainian financial sector. Before being appointed head of PrivatBank, he worked at Raiffeisen Bank Aval for more than ten years, where from 2010 to 2021 he held the position of First Deputy Chairman of the Board. At PrivatBank, Besch led the bank until November 2024, after which he left the post. He has now joined the work of the Supervisory Board of another state institution, which testifies to his continued demand in the Ukrainian banking management system.
Strengthening the State Presence on the Board
In addition to Besch's appointment, a state representative — financier Natalia Degtyareva — was included in the Supervisory Board of Sense Bank, becoming a board member appointed by the Cabinet of Ministers. The totality of these personnel decisions points to the government's course of strengthening state control over the management of Sense Bank after the period associated with the investigation of the 'Forrest Gump' case. The independent member format in which Besch works complements the state representation and creates a three-tier system of checks: a state representative, an independent expert, and the remaining board members.
Contradictory Data
The provided sources show a minor inconsistency in the spelling of the surname of the removed Chairman of the Supervisory Board: in some fragments it is given as 'Hladishchenko', in others — as 'Hladyshchenko'. The sources also contain several transliteration variants of the bank's name: 'Sense Bank', 'Sens Bank', 'Smysl Bank'. All three variants, judging by the context, refer to the same state credit institution. The difference in the spelling of the surname is probably an editorial feature of different publications and does not affect the essence of the personnel decision; however, for further verification, it is recommended to check against the original text of the Cabinet of Ministers' decree.
Thus, the appointment of Gerhard Besch to the Supervisory Board of Sense Bank completes the first stage of personnel reshuffling in the bank following Hladyshchenko's removal. For the market, this is a signal that the state intends to preserve the continuity of management competencies in its banks by bringing in proven professionals to the positions of independent supervisors.
