February 01, 2016, 12:40 / Finance / News

MasterCard announced a change in the head of its representative office in Russia

The MasterCard payment system has officially announced a change in the head of the company's Russian office. In a press release, the company indicates that Ilya Ryaby is moving to a new position as a senior executive at the international level, Interfax reports . MasterCard appoints Alexey Malinovsky as the new head of MasterCard in Russia, Kazakhstan, Belarus and Armenia.

Earlier, the Kommersant newspaper reported that Ryaby was moving to a higher position in MasterCard Europe, citing market sources.

"Over 15 years of work in the Russian representative office, Ilya made a significant contribution to the success of MasterCard in Russia and other Eurasian markets. Ilya assembled and developed a team that achieved outstanding results, making Russia one of the most successful markets in MasterCard's global business. In his new position, “Challenging and interesting work awaits,” Bella Stavchanski, president of MasterCard in the region of fast-growing European markets, is quoted in a company release as saying.

Malinovsky held the position of regional director for government relations at MasterCard in Russia, the CIS, Central and Eastern Europe for six years. He will take up his new position on March 1, 2016.

Ryaby has been heading the Russian representative office since 2008, and has been working for MasterCard itself since 1998.