18th Aug 2008 07:00
18 August 2008
VTB Supervisory Council holds meeting
On 15 August 2008, VTB's Supervisory Council met and resolved to appoint Mikhail Kuzovlev as First Deputy Chairman of the JSC VTB Bank Management Board. In this position Mikhail Kuzovlev will administer a wide range of matters concerning the general management of the Bank and the development of VTB Group's corporate business.
Mikhail Kuzovlev joined VTB in 2002 as Vice President, and since 2004 he has held various positions at VTB's subsidiary retail bank in Moscow and the Russian Commercial Bank (Cyprus).
Andrei Kostin, President-Chairman of the Management Board of JSC VTB Bank, commented: "Mikhail Kuzovlev's wealth of banking experience ensured his impressive success in implementing projects related to the VTB Group subsidiary bank's expansion. I am confident that in his new capacity Mikhail will efficiently fulfill the large-scale tasks set before him at VTB Group Head Office".
For reference:
Mikhail Kuzovlev was born in 1966. He graduated from MGIMO. From 1990-1994 he was First Deputy Director and later Vice President of the Probusiness External Economic Association. From 1994-1996 Mikhail Kuzovlev was Vice President of the Probusiness-holding. From 1997-2002 he worked at Probusiness bank, where he rose from Head of Financial Transactions Management Department to Deputy Chairman of the Board.
In 2002, he joined Vnestorgbank as Vice President. He left this post in 2004 to become CEO at GUTA-bank, later renamed VTB24.
Since 2005 and until recently, Mikhail Kuzovlev headed Russian Commercial Bank (Cyprus).
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About VTB Bank:
JSC VTB Bank and its subsidiaries (the VTB Group or the Group) is a leading Russian banking group, offering a wide range of banking services and products across Russia, certain CIS countries and in selected countries of Western Europe, Asia and Africa.
As of March 31, 2008 the Group had a network of 980 branches located across Russia, CIS. Europe and Asia, of which VTB24 retail branches amounted to 378. Outside of Russia, the Group operates through four subsidiary banks located in the CIS (Armenia, Georgia, Ukraine and Belarus), six subsidiary banks located in Europe (UK, France, Germany, Austria, Switzerland and Cyprus), one subsidiary bank and one financial company in Africa (Angola, Namibia), and an associated bank in Vietnam. VTB also has a presence in Singapore through a branch of its UK subsidiary. VTB has operated under a full banking license, № 1000 from the Central Bank of the Russian Federation since 1990.
The Group's business franchise is in the areas of corporate, retail and investment banking. In corporate banking, the Group provides a broad range of commercial banking services and products including corporate lending, foreign trade transactions, syndicated loans, deposit and settlement services, as well as custody services, leasing and treasury services to large- and medium-sized corporations and financial institutions. In retail banking, VTB offers financial services, including deposit accounts, lending and certain ancillary services, to individuals and small-sized corporations. In investment banking it provides debt capital markets underwriting, project financing, merger and acquisition financing, advisory services, asset management and venture funds.
The Group had 38,151 employees as of March 31, 2008. The Government of the Russian Federation is VTB's main shareholder and owns, through the Federal Property Management Agency, 77.5 % of its registered share capital. For more information please visit www.vtb.com
Disclaimer
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of VTB. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," or the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. VTB does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in VTB's projections or forward-looking statements, including, among others, general economic and market conditions, VTB's competitive environment, risks associated with operating in Russia, rapid technological and market change, and other factors specifically related to VTB and its operations.
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