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VTB Supervisory Council holds meeting

18 August 2008

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).

Andrey 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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