Starting April 6, 2009 Joint Stock Bank Otkritie is to be named as Otkritie Investment Bank, Otkritie Financial Corporation’s press service reported.
“Changing the lender’s corporate names goes in line with the procedure aimed at shifting the corporation’s business towards the model that calls for setting three main areas of business: investment banking, asset management and commercial banking," a press release quoted the corporation’s general director Vadim Belyaev as saying.
The bank will specialize in investment products, with all operations of commercial banking to be carried out by Russian Development Bank, part of the corporation.
Bank Otkritie has been part of Otkritie Financial Corporation since 2006. The corporation provides a range of services on financial markets to institutional, private and corporate clients. Its primary areas of business are investment banking, management of assets and funds and banking services for households.
