Chairman of the Management Board and the Management Board

The Management Board is the bank’s collective executive body responsible for the overall direction of its current activities. The Management Board is headed by the Chairman of the Management Board who is the bank’s sole executive body.

The competence of the Management Board and the Chairman of the Management Board are set out in the bank’s Charter and the Regulation on the Management Board and the Chairman of the Management Board.

Key responsibilities of the Management Board include:ensuring the implementation of any resolutions of the General Shareholders’ Meeting and the Supervisory Board and any recommendations of the Audit Panel; forming committees for any activities of the bank and delegating to these committees some of the powers of the Management Board under respective committee regulations in accordance with approved regulations; determining the bank’s organisational structure and total headcount, and reviewing the staffing of the bank.

The Chairman of the Management Board directs Management Board proceedings, represents the bank and undertakes transactions without a power of attorney, disposes of the bank’s property, organises the accounting and reporting at the bank, and decides other matters arising in the bank’s day-to-day activities.

The Management Board is elected by the Supervisory Board indefinitely as recommended by the Chairman of the Management Board.The Management Board and the Chairman of the Management Board report to the Supervisory Board.

The following changes in the Management Board took place in 2019: the appointment of Alexey A. Stepanenko was terminated on 03.04.2019, Elena V. Shved on 11.06.2019, Pavel B. Shevchuk on 03.10.2019. Sergey E. Putyatinsky joined the Management Board as a Deputy Chairman on 10.01.2019.

Thus, as of 31 December 2019, the Management Board consisted of nine top managers.

Members of the Management Board

<strong>Vladimir A. Chubar</strong><!-- Vladimir A. Chubar -->

Vladimir A. Chubar

Chairman of the Management Board, member of the Supervisory Board.

More information is given in the Supervisory Board section.

<strong>Alexey V. Kosyakov</strong><!-- Alexey V. Kosyakov -->

Alexey V. Kosyakov

Deputy Chairman of the Management Board

Date and place of birth: 12 August 1983, Vidnoe, Moscow Region

Education:

  • 2006: degree in Electronic and Automation Engineering of Physical Installations from the Moscow Engineering and Physics Institute.
  • 2009: degree in Finance and Credit from Plekhanov Russian Academy of Economics.

Career summary Employments in at least five years prior to the appointment (election) in the Bank.:

Swedbank OJSC

  • 28.02.2008 – 18.05.2010: Senior Associate of the Consumer and Car Lending Unit of the Retail Business Division.
  • JSCB Bank of Moscow
  • 21.06.2010 – 07.04.2011: Chief Associate of the Retail Credit Products Development Unit of the Retail Credit Products and Technologies Development Division.
  • CREDIT BANK OF MOSCOW
  • 12.04.2011 – 31.07.2011: Head of the Consumer Lending Division of thу Retail Business Directorate’s Retail Lending Department.
  • 01.08.2011 – 31.01.2012: Director of the Retail Lending Department of the Retail Business Directorate.
  • 01.02.2012 – 14.10.2013: Head of the Retail Business Directorate.
  • 15.10.2013 – to date: member of the Management Board.
  • 15.10.2013 – to date: Deputy Chairman of the Management Board.

Stake in the bank’s charter capital as at the end of the reporting year: 0.00143%

Percentage of ordinary shares held in the bank as at the end of the reporting year: 0.00143%.

Shares of the bank acquired or disposed of in the reporting year: none.

<strong>Svetlana V. Sass</strong><!-- Svetlana V. Sass -->

Svetlana V. Sass

Chief Accountant

Date and place of birth: 1 April 1965, Moscow

Education:

  • 1987: degree in Organisation of Mechanised Processing of Economic Data from the Moscow State University of Economics, Statistics and Informatics.
  • 1993: training course at the International Centre for Training of Managers.
  • 1994: training course at Joint-Stock Company Corporate Certification Centre Consultbankir.
  • 1999: training course at the Institute of Professional Accountants of Russia of the Ministry of Finance of the Russian Federation.
  • 2007: training course at the International Financial Banking School, Moscow.
  • 2012: training course A Bank: Accounting, Taxes and Reporting at the Private Educational Institution – the Institute of Advanced Training and Training of Financial Specialists.
  • 2013: training course Accounting and Tax Accounting in Commercial Organisations, Non-commercial Organisations and Budget Institutions. Complex Issues in IFRS Reporting: Calculation of Deferred Tax according to IAS 12 at the Institute for Development of Modern Educational Technologies (IRSOT).

Career summary:

  • CB Holding-Credit LLC
  • 06.10.2000 – 06.08.2006: CFO – Chief Accountant.
  • 07.08.2006 – 21.04.2008: CFO.
  • CREDIT BANK OF MOSCOW
  • 24.04.2008 – 24.06.2008: Advisor to the Chairman of the Management Board – President.
  • 25.06.2008 – to date: Chief Accountant.
  • 05.11.2008 – to date: member of the Management Board.
  • NCO INKAKHRAN (JSC)
  • 13.04.2016 – to date: member of the Board of Directors.

Stake in the bank’s charter capital as at the end of the reporting year: 0.00056%

Percentage of ordinary shares held in the bank as at the end of the reporting year: 0.00056%

Shares of the bank acquired or disposed of in the reporting year: none.

<strong>Anton O. Virichev</strong><!-- Anton O. Virichev -->

Anton O. Virichev

Head of the Risk Management Directorate, member of the Management Board

Date and place of birth: 11 April 1978, Moscow

Education:

  • 1999: degree in Finance and Credit from the Financial University under the Government of the Russian Federation.

Career summary:

  • CREDIT BANK OF MOSCOW
  • 02.02.2009 – 31.03.2009: Head of the Risk Analysis Unit of the Risk Management Division.
  • 01.04.2009 – 05.08.2010: Head of the Risk Management Division.
  • 06.08.2010 – 31.03.2011: Director of the Risk Management Department.
  • Sberbank of Russia OJSC
  • 16.06.2011– 25.06.2012: Manager of the Food Industry and Trade Unit of the Customer Managers Division of the Largest Customers Department.
  • CREDIT BANK OF MOSCOW
  • 09.07.2012 – 16.01.2015: Director of the Business Development Department.
  • NOTA-Bank (JSC)
  • 19.01.2015 – to date: Head of the Risk Management Directorate.
  • 24.02.2016 – to date: member of the Management Board.
  • SKS Bank, LLC
  • 16.09.2016 – to date: member of the Board of Directors.

Stake in the bank’s charter capital as at the end of the reporting year: 0.00157%

Percentage of ordinary shares held in the bank as at the end of the reporting year: 0.00157%

Shares of the bank acquired or disposed of in the reporting year: none.

<strong>Alexander N. Kaznacheev</strong><!-- Alexander N. Kaznacheev -->

Alexander N. Kaznacheev

Deputy Chairman of the Management Board

Date and place of birth: 16 December 1974, Volodarsk, Dzerzhinsky district, Nizhny Novgorod region

Education:

  • 1996: degree of foreign language-speaking engineer-economist in Economics and Management in Machinery Industry from Moscow Aviation Institute
  • 1999: Ph.D. in Economics from Moscow Aviation Institute.
  • 2013: МВА – Banking Management programme at the International Business School of the Financial University under the Government of the Russian Federation.

Career summary:

  • Bank GPB (JSC)
  • 19.09.2008 – 11.08.2017: First Vice President.
  • Bank CUB (JSC)
  • 03.06.2008 – 04.12.2017: member of the Board of Directors.
  • GPB – factoring LLC
  • GPB – factoring LLC
  • Gazprombank Leasing АО
  • 27.06.2011– 30.11.2017: member of the Board of Directors.
  • ETP GPB LLC
  • 29.12.2012 – to date: member of the Board of Directors.
  • 25.01.2013 – 21.05.2017: Chairman of the Board of Directors.
  • 22.05.2017– to date: Deputy Chairman of the Board of Directors.
  • CREDIT BANK OF MOSCOW
  • 14.08.2017 – 17.10.2017: Advisor to the Chairman of the Management Board.
  • 18.10.2017 – to date: member of the Management Board.
  • 18.10.2017 – to date: Deputy Chairman of the Management Board.
  • NCO INKAKHRAN (JSC)
  • 15.02.2018 – to date: member of the Board of Directors.

Stake in the bank’s charter capital as at the end of the reporting year: 0.00158%

Percentage of ordinary shares held in the bank as at the end of the reporting year: 0.00158%

Shares of the bank acquired or disposed of in the reporting year: none.

<strong>Oleg A. Borunov</strong><!-- Oleg A. Borunov -->

Oleg A. Borunov

Deputy Chairman of the Management Board

Date and place of birth: 22 November 1979, Murom, Vladimir Region

Education:

  • 2002: degree of economist in Finance and Credit from the State University of Management.

Career summary:

  • VTB Bank PJSC (parallel employment)
  • 01.12.2011 – 24.09.2015: Head of the Repo Unit of the Fixed Income and FX Trading Division of the Investment Products Department.
  • 25.09.2015 – 10.07.2016: Managing Director of the Repo Unit of the Fixed Income and FX Trading Division of the Investment Products Department.
  • 11.07.2016 – 31.03.2017: Vice President, Managing Director of the Repo Unit of the Fixed Income and FX Trading Division of the Investment Products Department.
  • JSC VTB Capital
  • 02.06.2012 – 07.06.2015: Head of the Repo Division of the Equities Department.
  • 08.06.2015 – 31.03.2017: Head of the Equities Department.
  • VTB Capital Broker
  • 09.11.2013 – 19.05.2017: Chairman of the Supervisory Board
  • Investment Bank VESTA (LLC)
  • 20.06.2017 – 08.09.2017: Advisor overseeing the bank’s investment business.
  • CREDIT BANK OF MOSCOW
  • 11.09.2017 – 26.10.2017: Advisor to the Chairman of the Management Board.
  • 27.10.2017 – to date: member of the Management Board.
  • 27.10.2017 – to date: Deputy Chairman of the Management Board
  • Sova Capital Limited
  • 21.09.2018 – to date: Independent Director on the Board of Directors.

Stake in the bank’s charter capital as at the end of the reporting year: 0.00158%

Percentage of ordinary shares held in the bank as at the end of the reporting year: 0.00158%

Shares of the bank acquired or disposed of in the reporting year: none.

Mikhail V. Polunin</strong><!-- Mikhail V. Polunin -->

Mikhail V. Polunin

First Deputy Chairman of the Management Board

Date and place of birth: 20 December 1974, Omsk

Education:

  • 1996: degree in Automated Information and Management Systems from Omsk State Technical University
  • 2002: degree in Finance and Credit from All-Russian State Distance-Learning Institute of Finance and Economics.

Career summary:

  • Sviaz-Bank JSC
  • 22.03.2012 – 11.08.2014: Director of Saint Petersburg branch.
  • Bank RRDB (JSC)
  • 09.09.2014 – 31.05.2015: Advisor.
  • 01.06.2015 – 15.02.2017: Vice President.
  • State Corporation Deposit Insurance Agency
  • 16.02.2017 – 10.08.2017: anti-crisis manager at the Temporary Administrations Support Unit of the FI Restructuring Department.
  • PERESVET BANK (JSC)
  • 11.08.2017 – 21.02.2018: President.
  • 10.08.2017 – 27.06.2018: member of the Board of Directors.
  • CREDIT BANK OF MOSCOW
  • 07.11.2017 – 22.03.2018: Advisor to the Chairman of the Management Board.
  • 23.03.2018 – to date: First Deputy Chairman of the Management Board.
  • NCO Inkakhran (JSC)
  • 15.02.2018 – 29.11.2019: member of the Board of Directors.
  • ELECSNET REGIONS JSC
  • 23.01.2019 – to date: member of the Board of Directors.
  • ELECSNET KAZAN JSC
  • 23.01.2019 – to date: member of the Board of Directors.
  • NCO ELECSNET (JOINT-STOCK COMPANY)
  • 24.01.2019 – to date: member of the Board of Directors.
  • ELECSNET JSC
  • 24.01.2019 – to date: member of the Board of Directors.

Stake in the bank’s charter capital as at the end of the reporting year: 0.00072%

Percentage of ordinary shares held in the bank as at the end of the reporting year: 0.00072%

Shares of the bank acquired or disposed of in the reporting year: none.

<strong>Kamil R. Yusupov</strong><!-- Kamil R. Yusupov -->

Kamil R. Yusupov

Deputy Chairman of the Management Board

Date and place of birth: : 11 October 1971, Aktanysh settlement, Aktanyshsky district, Republic of Tatarstan

Education:

Professional education:

  • 1994: electrical engineer’s degree in Automation of Technological Processes and Production from Kamsk Polytechnic Institute, qualification
  • 1998: manager’s degree in Management from Kazan State Finance and Economics Institute

Career summary:

  • VTB Bank OJSC
  • 25.03.2013 – 03.04.2015: Head of Directorate for the Republic of Tatarstan of VTB Bank branch in Nizhny Novgorod.
  • Tatar Regional Office of All-Russia Public Organization BUSINESS RUSSIA
  • 23.01.2015 – to date: Chairman of Tatar regional office.
  • Avers Bank LLC
  • 16.04.2015 – 23.04.2015: Advisor to the Chairman of the Management Board.
  • 24.04.2015 – 07.05.2018: Chairman of the Management Board.
  • 30.04.2015 – 08.05.2018: member of the Board of Directors.
  • Tulpar Technic Ltd.
  • 14.04.2016 – to date: member of the Board of Directors.
  • CREDIT BANK OF MOSCOW
  • 04.06.2018 – 16.08.2018: Advisor to the First Deputy Chairman of the Management Board.
  • 17.08.2018 – to date: member of the Management Board.
  • 17.08.2018 – to date: Deputy Chairman of the Management Board

Stake in the bank’s charter capital as at the end of the reporting year: none.

Percentage of ordinary shares held in the bank as at the end of the reporting year: none.

Shares of the bank acquired or disposed of in the reporting year: none.

<strong>Sergey E. Putyatinsky</strong><!-- Sergey E. Putyatinsky -->

Sergey E. Putyatinsky

Deputy Chairman of the Management Board

Date and place of birth: 15 July 1982, Saratov

Education:

  • 2004: engineer’s degree in Computing Devices, Computer Complexes, Systems and Networks from Saratov State University
  • 2004: occupational retraining programme English Interpreter/Translator – Professional Communication at Saratov State University.
  • 2014: certificate of financial market specialist in depository activities from the Self-Regulatory Organisation National Securities Market Association.

Career summary:

  • NSD
  • 24.10.2013 – 27.07.2018: CIO.
  • 14.01.2015 – 27.07.2018: member of the Management Board
  • Russian Capital (joint-stock company)
  • 30.07.2018 – 05.10.2018: CIO.
  • CREDIT BANK OF MOSCOW
  • 08.10.2018 – 10.01.2019: Advisor to the First Deputy Chairman of the Management Board.
  • 10.01.2019 – to date: member of the Management Board.
  • 10.01.2019 – to date: Deputy Chairman of the Management Board.
  • SAMAS-IT LLC
  • 15.08.2005 – 20.11.2017: General Director.

Stake in the bank’s charter capital as at the end of the reporting year: none.

Percentage of ordinary shares held in the bank as at the end of the reporting year: none.

Shares of the bank acquired or disposed of in the reporting year: none.

Information about the members of the Bank’s Management Board, whose powers have been terminated

<strong>Alexey A. Stepanenko</strong><!-- Alexey A. Stepanenko --><span class="b-tooltip"><span class="b-tooltip__text">Appointment terminated on 03.04.2019 г. (last day in office).</span></span>

Alexey A. StepanenkoAppointment terminated on 03.04.2019 г. (last day in office).

Deputy Chairman of the Management Board, member of the Supervisory Board.

More information is given in the Supervisory Board section.

<strong>Elena V. Shved</strong><span class="b-tooltip"><span class="b-tooltip__text">Appointment terminated on 11.06.2019 (last day in office).<!-- Appointment terminated on 11.06.2019 (last day in office). --></span></span>

Elena V. ShvedAppointment terminated on 11.06.2019 (last day in office).

Director of the Financial Department, member of the Management Board

Date and place of birth: 20 November 1987, Bolshevo-1, Moscow Region

Education:

  • 2008/2010: bachelor’s/master’s degrees in Applied Mathematics and Physics from the Moscow Institute of Physics and Technology (State University).

Career summary:

  • Alta-Bank (CJSC)
  • 01.02.2011 – 01.04.2011: Senior Associate of the Market and Structural Risks Appraisal and Analysis Unit of Risks Appraisal and Analysis Division.
  • CREDIT BANK OF MOSCOW
  • 04.04.2011 – 31.01.2012: Lead Associate of the Banking Risks Analysis Unit of the Risk Management Department’s Financial Risks Division.
  • 01.02.2012 – 04.10.2012: Senior Associate of the Financial Markets and Counterparties Analysis Unit of the Analytical Department’s Financial Markets Analysis Division.
  • 05.10.2012 – 14.02.2013: Head of the Banking and Market Risks Analysis Unit of the Analytical Department’s Financial Markets Analysis Division.
  • 15.02.2013 – 06.10.2013: Head of the Financial Risk Analysis Division.
  • 07.10.2013 – 11.06.2019: Director of the Financial Department.
  • 22.03.2016– 11.06.2019: member of the Management Board.
  • SKS Bank, LLC
  • 06.08.2016 – 31.07.2019: member of the Board of Directors.

Stake in the bank’s charter capital as at the end of the reporting year: 0.00191%

Percentage of ordinary shares held in the bank as at the end of the reporting year: 0.00191%

Shares of the bank acquired or disposed of in the reporting year: none.

<strong>Pavel B. Shevchuk</strong><!-- Pavel B. Shevchuk --><span class="b-tooltip"><span class="b-tooltip__text">Appointment terminated on 03.10.2019 (last day in office).<!-- Appointment terminated on 03.10.2019 (last day in office). --></span></span>

Pavel B. ShevchukAppointment terminated on 03.10.2019 (last day in office).

First Deputy Chairman of the Management Board

Date and place of birth: 12 February 1973, Moscow

Education:

  • 1996: mechanical engineer’s degree from Bauman Moscow State Technical University.
  • 2012: degree in Law from Kutafin Moscow State Law Academy.
  • 1998: occupational retraining programme “Finance and Credit” at the Finance and Banking Technologies Institute.
  • 2003: securities management, and investment funds, mutual funds and private pension funds management firm executive / comptroller / specialist qualification upgrade.

Career summary:

  • Sberbank, Moscow Bank
  • 01.06.2012 – 31.12.2014: Director of Tverskoe Branch.
  • 01.01.2015 – 04.04.2016: CIB Managing Director.
  • 05.04.2016 – 16.05.2016: Managing Director covering large, medium, small and micro-businesses (including defence industry enterprises).
  • REGION IC JSC
  • 14.11.2016 – 24.04.2017: First Deputy General Director.
  • CREDIT BANK OF MOSCOW
  • 05.02.2018 – 22.03.2018: Advisor to the Chairman of the Management Board.
  • 23.03.2018 – 03.10.2019: First Deputy Chairman of the Management Board
  • 23.03.2018 – 03.10.2019: member of the Management Board.
  • NCO INKAKHRAN (JSC)
  • 15.02.2018 – 03.10.2019: member of the Board of Directors.
  • ELECSNET REGIONS JSC
  • 23.01.2019 – 01.11.2019: member of the Board of Directors.
  • ELECSNET KAZAN JSC
  • 23.01.2019 – 01.11.2019: member of the Board of Directors.
  • NСO ELECSNET (JOINT-STOCK COMPANY)
  • 24.01.2019 – 04.10.2019: member of the Board of Directors.
  • ELECSNET JSC
  • 24.01.2019 – 04.10.2019: member of the Board of Directors.
  • Sport Territory LLC
  • 26.09.2017 – to date: General Director.
  • Alphasport LLC
  • 20.10.2017 – to date: General Director.

Stake in the bank’s charter capital as at the end of the reporting year: 0.0002%

Percentage of ordinary shares held in the bank as at the end of the reporting year: 0.0002%

Shares of the bank acquired or disposed of in the reporting year: none.

Remuneration of the Management Board

The structure of remuneration of executive management bodies (executives) and the terms and conditions for payment of remuneration to Management Board members are set out in the Regulation on Remuneration of Members of the Management Board and Selected Senior Executives of the bank approved by the Supervisory Board.

The system of remuneration of executives is implemented in line with requirements of the Bank of Russia’s Instruction 154-I “On Assessing, and Ordering Remedy of Breaches in, Credit Institutions’ Payroll Systems” dated 17 June 2014.

Structure of remuneration of executives:

  • Non-performance-related components (fixed part of remuneration).
  • Performance-related components (non-fixed part of remuneration).
    • Annual cash award;
    • Deferred long-term performance award;
    • Award for completion of critical tasks (projects).

Annual performance-related awards to the bank’s executives depend on how the bank and each of executives meet the annual targets approved by the Supervisory Board in two aspects:

  • The bank’s financial targets (financial results, ROE, ROA, Cost of Risk, NPL and CTI);
  • Individual performance targets.

The bank’s executives may be awarded for completion of critical tasks (projects) by decision of the Supervisory Board as advised by the Chairman of the Management Board.

By resolution of the Supervisory Board, annual awards for 2016-2018 and a part of deferred remuneration for 2016 and 2017 as adjusted on the basis of 2017 and 2018 results, respectively, were paid to the members of the executive bodies.

Executive Body Remunerations in 2016–2019 (RUB mln)
Executive Body Remunerations in 2016–2019 (RUB mln)