Otkritie Financial Corporation announced a strategy that aims to consolidate banking business. For the record, as part of this project a universal bank is to be set up on the basis of Bank Otkritie, Otkritie Investment Bank and Bank Petrovsky.
The financial corporation’s press service said the restructuring will lead to the management shakeup at the financial corporation and its divisions. The financial corporation’s general director Vadim Belyaev will become president of the corporation and board chairman at the merged bank. Bank Otkritie’s management board chairman Vasily Zablotsky will keep this position at the merged bank as well. Otkritie Financial Corporation’s senior managing director Mikhail Belyaev will act as the corporation’s general director. Otkritie Investment Bank’s managing director Evgeny Dankevich will oversee brokerage and investment retail services, while Otkritie Securities Limited СEO Roman Lokhov will be in charge of investment banking. Boris Mints remains the corporation’s board chairman.
“In the next 12 months the merged bank will become a Top 30 player on the Russian financial market,“ Vadim Belyaev noted. In his opinion, the consolidation will strengthen the corporation’s positions on the Russian banking market, open new additional opportunities to expand this area of business and consequently take it to a new level. “The merger will allow us to expand our regional network dramatically, offer the widest possible range of services both to businesses and individuals, and also solidify our business relations with major private clients,” Belyaev emphasized.
