8 Sep 2009 09:55
8 September 2009
Press Release
VTB announces management changes
JSC VTB Bank announces that Herbert Moos, CEO of VTB Capital plc., will be offered the role of heading up VTB Bank's Financial Department. As the Chief Financial Officer, he will be in charge of the development of VTB's financial strategy, asset and liability management, financial reporting, capital markets operations and the promotion of shareholder and investor relations. These changes will be coordinated with the regulating authorities of Russia and the UK.
Herbert Moos said: "I am delighted to be offered this opportunity by the Bank. I look forward to utilising my professional experience to strengthen the financial position of VTB Group in the challenging economic and market environment".
Mr. Moos will hold the position of CEO of VTB Capital plc., until further decision.
Nikolai Tsekhomsky, CFO and Member of VTB Management Board, is to leave VTB to take up a role at another organisation.
Andrei Kostin, VTB President and Chairman of the Management Board, said: "We highly appreciate Nikolay Tsekhomsky's contribution to turning VTB into an international public financial group and wish him further success".
VTB Bank also announces that Alexander Yastrib, Senior Vice President, has become head of the Bank's Risk Department. He is responsible for VTB Group credit, operational and market risks, identifying unfavorable trends, and diversification of risk by regions, industries, counterparties, financial products and instruments in order to avoid financial losses.
Alexander Yastrib said: "The current challenging economic environment makes activities of VTB Bank Risk Department increasingly important, since efficient risk management should both forecast and prevent any possible threat. I am confident that we will overcome the present financial turmoil".
Evgeny Novikov, former head of the Risk Department, will continue working for VTB Group at a new position.
For reference:
Herbert Moos was born on 14 June 1972. He graduated from Kiev State University with honors, specializing in Finance and Economics, and later graduated from London Business School as Master of Finance. In 2008, Herbert Moos joined VTB Group as CEO of VTB Capital plc. after 14 years of employment at Lehman Brothers at different positions, including as Asia-Pacific CFO and Treasurer .
For reference:
Alexander Grigoryevitch Yastrib was born on 29 December 1968 in Moscow. He graduated from Moscow State Automobile and Road Technical University. Since 1995, he has been in the banking business, working for JSC ProBusiness Bank. In 2005, Alexander Yastrib joined CJSC Guta-Bank (presently VTB24) where he worked as Senior Vice President, head of Department of Network Distribution Development and Management, member of the Management Board. Since 2006, he has been Senior Vice President of VTB Bank, then Senior Vice President-Head of Investment Banking Development Division, Senior Vice President-Head of Corporate Business Products and Support Segment, head of VTB Risk Department. Mr. Yastrib holds a candidate degree in Economics.
Contacts: Investor Relations: Tel.: +7 495 775 71 39 Email: investorrelations@vtb.ru