The National Bank of Ukraine Approved the Candidacy of Simeon Dyankov for the Position of Trustee Who Will Be Given the Right to Vote on the Shares of Sanctioned Shareholders of Alfa-Bank Ukraine
According to the law, Alfa-Bank Ukraine agreed with the National Bank of Ukraine on the trustee — Simeon Dyankov who is given the right to vote on the shares of shareholders whose reputation is recognized as impeccable, and the right to participate in the management of the bank in any way. Now, within the limits of authorities and legislation, Simeon Dyankov can participate in the bank management.
Simeon Dyankov is the Bulgarian economist, statesman — former Minister of Finance and Deputy Prime Minister of the Government of Bulgaria (July of 2009 – March of 2013). Currently he holds the positions of Executive Director of the Financial Markets Group of the London School of Economics and Technical Advisor of the European Commission. Also Mr. Dyankov has 19 years of experience at the World Bank, where he dealt with countries with economies being in transition. In addition, he worked as the Chairman of the Supervisory Board of the European Bank for Reconstruction and Development. He published more than 70 scientific articles, received a doctorate in economics at the University of Michigan (USA).
As Roman Shpek, Chairman of the Supervisory Board of Alfa-Bank Ukraine, noted: “We condemn the war, the terrible victims among the population, the destruction of the infrastructure. We understand what resources will be needed for the Ukraine's economy revival, and we will definitely participate in the recovery. We have to be ready for it. Today's appointment of Simeon Dyankov is an important step towards solving the reputational challenges that arose in Alfa-Bank Ukraine and to fulfill the requirements of Ukrainian legislation.
Simeon is a professional with unique experience of working in regions that have experienced crisis situations. He has deep knowledge of reforming the economy and corporate governance. I believe that the appointment of the trustee will also be a new opportunity for our team to obtain the necessary expertise for the Ukrainian economy.”
“International experience shows that the banking system stability is a key issue for the country's economy. Alfa-Bank Ukraine is one of the largest banks with modern services and a professional team. Our task is to go through the transformation period successfully and contribute to construction of a strong economy of Ukraine” — Simeon Dyankov said.
Alfa-Bank Ukraine is working normally. Bringing the bank's ownership structure in accordance with Ukrainian legislation does not affect the normal work of the financial institution. The Supervisory Board and the Management Board work without restrictions within their fields of responsibility and competencies.
In agreement with the National Bank of Ukraine, Simeon Dyankov will act within the issues of the General Meeting. The powers of the trustee include participation in the General Meeting, review of the report of the Bank’s Supervisory Board.
Alfa-Bank Ukraine is one of the systemically important banks of Ukraine. The bank serves more than 2.5 mln customers-natural persons. It means that the well-being of 4-6 million Ukrainians (together with their family members) depends on timely and high-quality banking services of Alfa-Bank. The bank is among the TOP-3 Ukrainian banks regarding the funds of natural persons.
We shall remind that the US Treasury Department and the UK Foreign Office stated that Alfa-Bank Ukraine is a separate legal entity that is not related to the russian bank and is not subject to sanctions.
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