INTERFAX. Managing director at Merrill Lynch Joachim Dobrikat has been elected board member at National Bank Trust, the lending institution said in a press release. Furthermore, the lender’s AGM elected the following board members: Andrey Drozdov, Christopher Hew Evans, Michael Eggleton, the bank’s board chairman and the largest beneficial owner Ilya Yurov, shareholders Nikolay Fetisov and Sergey Belyaev. They all formed the bank’s previous board. The AGM decided not to pay out dividends for 2007.
Currently, the process is under way to fold Trust Investment Bank into National Bank Trust and the plan is to wrap up consolidation by August. For consolidation purposes, National Bank Trust is to issue additional shares worth Rub 473.8 mln. Trust Investment Bank’s stocks will be converted into SPO shares at a 0.092 ratio. The SPO will increase National Bank Trust’s charter capital to Rub 1,946 mln and it will be divided in 389,298,047 shares with Rub 5.00 par value each.
Michael Eggleton is expected to take the seat of the merged bank’s executive board chairman. Nikolay Fetisov will retain the president position at the merged bank. For the record, last autumn Merrill Lynch acquired around 10% of banking holding Trust that owns controlling stakes in Investbank and National Bank Trust. In Q108, National Bank Trust ranked 43rd in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA, and Trust Investment Bank was in 118th place.
