Sergei Radchenkov leaving Svyaznoi Bank in line with new strategy

According to Russian business daily Kommersant (9 November 2012), Sergei Radchenkov, who had been chairman of Svyaznoi Bank since its foundation, is leaving the bank shortly, to be replaced by former deputy chairman of Expobank Tatyana Pupkova.

According to the newspaper, his departure is due to disagreement with the bank’s shareholders over the business model. Radchenkov had sought to maintain Svyaznoi Bank as a universal bank. However, the shareholders of the bank, which is majority controlled by Maxim Nogotkov’s Svyaznoi Group, have decided that Svyaznoi Bank should focus on the retail business.

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