VTB Bank appoints deputy president and chairman

VTB Bank in Russia has appointed Mikhail Oseevskiy as deputy president and chairman of the management board. The appointment is subject to approval by the Central Bank of Russia.

Oseevskiy was vice governor of Saint-Petersburg until last year and has held managerial positions at the Industry and Construction Bank and the Saint Petersburg Currency Exchange. Early this year he was appointed Deputy Minister of Economic Development of Russia.

VTB Group consists of investment banking and retail banking operations, as well as an asset management division. VTB Capital is the investment banking arm of the group. VTB Bank is the parent of five subsidiary banks in Russia, the largest being VTB24, Bank of Moscow and TransCreditBank.

VTB Capital Asset Management offers asset management solutions and fund products to both Russian and international investors. It serves institutions such as pension funds and insurance companies, as well as offering wealth management solutions to high net worth individuals. By the end of last year, its assets under management grew to over $2bn.

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