VEB Strengthens Management Team

VEB has reported staff changes in the Bank management structure. The organizational changes identified new handlers to supervise the Bank’s priority directions. VEB’s team was complemented with the managers competent in the Bank’s agenda. Their experience and managerial competencies will come in handy for transforming the institution set for developing and achieving the goals outlined in the President’s May Decree. The changes are aimed at increasing the Bank efficiency including its handling of problem assets.

First Deputy Chairman - Member of the Management Board of Vnesheconombank Mikhail Poluboyarinov will coordinate international activities, relations with Russian and foreign investors, VEB operations, liquidity management, attraction of financial resources at Russia’s and foreign capital markets and interbank lending.

By the decision of the VEB Supervisory Board, Mikhail Kuzovlev was appointed First Deputy Chairman -Member of the Management Board of Vnesheconombank. He will coordinate and supervise the Bank’s activities in dealing with problem assets, and supervise the activities of VEB Capital.

First Deputy Chairman - Member of the Management Board of Vnesheconombank Nikolai Tsekhomsky will control the issues of development of the Bank’s investment activities, implementation of the Bank’s sectoral business decisions, support for Russian exports, trade financing, documentary operations and export crediting.

Yuri Gazaryan, Marina Romanova and Konstantin Chagay have been appointed Vnesheconombank Deputy Chairpersons. Yuri Gazaryan will take up the issues of strategic development, coordinate efforts for the VEB development strategy and the progress of its implementation. Marina Romanova will supervise the issues of development of small and medium-sized businesses, as well as procurements of the VEB Group. Konstantin Chagay will handle the issues of transformation of the Bank and of the VEB Group.

Dmitry Kurdyukov in position of Vnesheconombank’s Deputy Chairman will coordinate the activities and exercise operational management of VEB’s subsidiaries — GLOBEX Bank and Svyaz-Bank, and supervise of their transformation.

As per other deputy chairpersons and members of the VEB Management Board, the scope of their supervision or their functional duties and responsibilities have not changed. Note, in accordance with the Federal Law “On the Bank for Development,” the VEB Management Board includes its Chairman Igor Shuvalov, and, as per by resolution of the Supervisory Board, First Deputy Chairpersons Mikhail Kuzovlev, Mikhail Poluboyarinov and Nikolai Tsekhomsky, and Deputy Chairpersons Alexei Ivanchenko, Petr Zolotarev, Andrei Klepach, Sergey Lykov and Svetlana Yachevskaya.

Press Office