Shishkhanov leaves the post of head of "Binbank"

Mikail Shishkhanov, co-owner of Binbank and one of the founders of the Safmar industrial and financial group, leaves the position of chairman of the Binbank board. He will focus on the management of strategically important areas of activity of the group, which includes Binbank, reports TASS. The decision to leave the post of head of the bank is determined by the rapid growth of the Safmar group and the need to improve its corporate governance, the release says.

Shishkhanov goes to Safmar as the deputy chairman of the board of directors and remains a member of the board of directors of industrial and financial assets of the group. Alexander Lukin will temporarily fulfill the duties of Binbank’s reproduction.

In addition to the financial bloc, Mikail Shishkhanov in a new position will also oversee the foreign economic activity of the group, the bank notes.

"Mikail Shishkhanov is an outstanding banker, a talented leader, for many years he successfully led the Binbank, which today is one of the leaders of the financial industry of Russia. We must use the powerful intellectual potential, the huge managerial experience of Mikail Shishkhanov, the realization of which will correspond to the rapid dynamics of the group’s development. That is why he is going to increase," the chairman commented on the movement Board of Directors and shareholder of Binbank Mikhail Gutseriev.

The Safmar industrial and financial group belongs to Mikhail Gutseriev by 51%, by 29.5% - Mikail Shishkhanov, by 19% - Sait -Salam Gutserieva. The group today includes four main blocks - industrial (oil and gas sector, coal mining, potassium production), financial (main asset - Binbank), housing construction (including Inteko, A101 Development), as well as commercial construction and commercial real estate management.

Shishkhanov and Gutseriev Sr. together own 96.45% of Binbank shares, this bank, according to the Banking Report of the Central Bank, takes 12th place in Russia.