Howard Snell has been appointed as the new CEO of Otkritie Securities, the UK-based subsidiary of Russias Otkritie Financial Corporation. He was previously of chairman of the subsidiary. Snells latest appointment is the result of several management changes at Otkritie Financial.
Snell reports to Vadim Belyaev, who has been appointed chairman of the Board of Directors at Otkritie Capital, the groups investment banking arm.
Snell replaces Roman Lokhov, who has been promoted to first deputy chairman of Otkritie Financials Board of Directors. Lokhov will be responsible for the formation and development of unified approaches across the groups business lines, working with private, corporate, institutional and international clients. He will also join Otkritie Capitals board of directors.
Additional members of Otkritie Financials board include Igor Vayn who becomes chief business officer and will be responsible for co-ordinating activities across all of the groups business lines. Dmitry Romaev will be in charge of risk management, finance and operations, while Alexey Karakhan will oversee communications, human resources and corporate services.
Michael Belyaev is now president at Otkritie Bank where he will focus on strategic implementation following his success in providing ongoing development of the organization. In addition, he has been nominated for the position of chairman of Otkritie Banks Board of Directors.
Vadim Belyaev said the realignment of business lines is aimed at enhancing the efficiency of the main processes across the group. To date, we have managed to achieve extremely ambitious goals to form a bank that has become one of Russias Top-30; to create a robust investment business and to acquire an insurance company. Now, in order to continue our success, we need to shift our focus from extensive development to consistent implementation of all strategic tasks across the Group. These changes will enable us to enhance the performance of each business line.
(JDC)