Yonach's Choice

The head of the Russian Raiffeisenbank moves to Alfa

Johann Jonach, who worked for two years as chairman of the board of the Russian Raiffeisenbank , will lead the Alfa Bank banking group. At Raiffeisenbank, his place will be taken by Pavel Gurin, who previously oversaw corporate business at the bank in the status of first deputy chairman. Mr. Gurin will become the first Russian citizen to become the head of an Austrian subsidiary bank.

Johann Jonach will manage the activities of the Russian, Kazakh and Ukrainian Alfa Bank, the Belarusian Mezhtorgbank and the Amsterdam Trade Bank N.V. (Amsterdam Trade Bank NV). Before his appointment, the position of head of the banking group did not exist at Alfa. As stated by the bank's president, Petr Aven, whose words are quoted in the official statement, “one of the most respected and talented professionals has joined our team.”

According to the first deputy chairman of Orgresbank, Igor Bulantsev, it is quite logical that the bank has a head of all banking assets. Especially if there are ambitious plans to develop this business. Alfa Bank said yesterday: “The creation of this structure, which essentially has the functions of a management company, is dictated by the interests of further development of the banking business of shareholders both in Russia and abroad. Over the past few years, the banks included in the banking group have been actively developing. Today, almost all of them are serious players in local banking markets. The seriousness of the shareholders' intentions to further develop the banking business was confirmed by the recent purchase of a bank in Belarus. For the further effective development of the banking group, a team of professionals is needed that could introduce qualitatively new management standards; the logical consequence should be an increase in the efficiency of both overall financial activities and individual banks.” The bank did not comment on whether there would be personnel changes in connection with Mr. Yonach's appointment.

Before joining the Russian Raiffeisen, Johann Jonach was Deputy Chairman of the Board of Raiffeisenbank-Ukraine. Yesterday Raiffeisenbank announced that Pavel Gurin will become the new head of the credit institution. Previously, the subsidiary of an Austrian bank was headed only by foreigners. First it was Michel Peririn (now the head of MDM Bank), then Mr. Yonach. Several months ago, Mr. Gurin became the first deputy chairman of Raiffeisenbank, with his participation all significant decisions were made at the bank. He has been working at the bank since 1999. Now Oksana Panchenko will oversee the corporate business, while holding the post of member of the board.

According to the deputy chairman of the board of Russian Standard Bank, Evgeniy Tutkevich, who worked at Raiffeisenbank for nine years, Pavel Gurin is the best candidate for the post of chairman of the board. “Pavel and I have worked together for many years; he knows the bank very well and understands the specifics of the Russian banking sector well. He has long earned this position; Pavel will cope with his new job better than any expat.” As stated at Raiffeisenbank, there will be no changes in the development strategy of the credit institution due to a change in management.

Natalia ROMANOVA