CREDIT BANK OF MOSCOW announces changes in its Supervisory Board


28 November 2012 – CREDIT BANK OF MOSCOW held an extraordinary general shareholders’ meeting. It re-elected the Bank’s Supervisory Board with addition of two new members, Vadim Sorokin and William Owens.

Now CREDIT BANK OF MOSCOW’s Supervisory Board consists of twelve members, of which seven are independent directors: Sandy Vaci (Hungary), Richard Damien Glasspool (UK), Genadi Lewinski (Germany), Nikolay Kosarev (Russia), Mustafa Boran (Turkey), Andrew Sergio Gazitua (USA) and William Owens (USA), each of which has profound experience in various areas, such as finance, investments, capital markets, audit, corporate law, etc. The other members of the Bank’s Supervisory Board are: Roman Avdeev, Alexander Nikolashin, Vladimir Chubar, Anton Avdeev and Vadim Sorokin.

More information on the Supervisory Board membership is available at the Bank’s website in the Supervisory Board section.

Vadim Sorokin was born on July 22, 1969 in Moscow. In 1993 he graduated from the State Finance Academy.

Certified Public Accountant of the American Institute of Certified Public Accountants (AICPA). Member of the Institute for Professional Auditors of Russia.

Vadim Sorokin worked as CFO & VP in Aljba Alliance bank from 1995 to 1997. Since 1997 he had been a partner and the Head of Financial Services Practice for the CIS in Deloitte. In 2008 he joined MDM Bank as a Deputy Chairman of the Management Board and supervised the finance function of the bank and investor relations, led the bank’s strategy development and interacted with the Board of Directors. Since 2010 he has been the CFO and a member of the Management Board and Board of Directors of Technosila.

Vadim Sorokin was delegated to the Bank’s Supervisory Board by the European Bank for Reconstruction and Development (EBRD).

William Owens was born on October 22, 1950 in Ft. Worth, Texas (USA). He earned a master’s degree in public affairs from LBJ School at the University of Texas, and a Bachelor of Science from Stephen F. Austin State University (USA).

Mr Owens’ professional career began on the consulting staff of Big Eight firm of Touche Ross & Co. (now Deloitte) and later he was also in the petroleum business. From 1995 to 1999 he held the office of Colorado State Treasurer, and then served two terms as Governor of Colorado in 1999-2007.

Mr Owens served for five years (2007-2012) as an Independent Director of Far Eastern Shipping Company (FESCO), a Russian shipping, logistics and port company which is listed on MICEX-RTS. Mr Owens also served as Chair of FESCO’s Strategy Committee.

William Owens is presently Managing Director of Renew Strategies, a Colorado-based water and land development company, and serves on the boards of Key Energy Services (NYSE), Cloud Peak Energy (NYSE), Bill Barrett Corporation (NYSE) and Federal Signal Corporation (NYSE).