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CREDIT BANK OF MOSCOW announces new appointment

22.05.2013

CREDIT BANK OF MOSCOW appointed Reinhard K. Stary as Strategic Advisor to the Chairman of the Management Board.

In his new position Mr. Stary will be responsible for the following key areas which are of crucial importance given the Bank’s plans of going public:

  • the corporate strategy of the Bank;
  • Corporate Governance, operational design and process improvements;
  • Investor Relation strategy, including all current IR activities.

“Having operated in mature and emerging markets across the globe, in global multinational corporations as well as dynamic fast growing companies, Mr. Stary has developed a unique expertise, network and understanding of corporate finance, strategy development and managing businesses in different markets, industries and segments. Mr. Stary is going to play a major role in the further design and implementation of the Bank’s corporate and organizational strategy and I am convinced that his impressive international experience and varied background will add substantial value to CREDIT BANK OF MOSCOW during the preparation and after the IPO”, - said Vladimir A. Chubar, Chairman of the Management Board of CREDIT BANK OF MOSCOW.

Reinhard Stary was born in 1964 in Vienna, and is a dual citizen of Austria and Switzerland. He graduated from the Vienna University of Economics with a MSc in Economic and Social Sciences. Furthermore he holds a dual MBA degree from London Business School and Columbia Business School. Mr. Stary’s career started at a Vienna based Strategy Consultancy followed by more than four years at “Treuhandanstalt” and TLG in Berlin, where he was involved in the privatization of Eastern German companies and real estate in the 1990-ties. After the German unification, in 1997 Mr. Stary as Finance Director successfully led the IPO of a Berlin headquartered international software company at the Frankfurt Stock Exchange. In the subsequent 14 years he worked at Zurich Financial Services Group (ZFS) and the Dutch Achmea Group in Zurich and Moscow in CEO, Deputy CEO, COO and CFO roles and in senior corporate HQ finance positions (Treasury and Investor Relations). Mr. Stary’s responsibilities included leading a Russian insurance company as CEO and Chairman of the Management Board, and managing several country units in emerging markets across the globe as COO of the International Division of ZFS. Mr. Stary led the expansion of ZFS in Russia since 2005, including the acquisition and successful rebranding of Nasta Insurance and its merger with Zurich Insurance Russia. From 2011 to 2013 he has been a Managing Partner of a new PE venture with a focus on CEE/CIS as well as a strategic advisor to privately held Swiss and Russian based technology and service companies and a Managing Director at Hussar & Co., a global New York based Corporate Finance Boutique, working on capital formation and corporate finance mandates in CEE and CIS.

Background details

CREDIT BANK OF MOSCOW was founded in 1992. It holds general license No. 1978 issued by the Bank of Russia.

As at end-2012, the Bank ranked 19th largest bank in Russia in terms of total assets under RAS (RBC Rating).

CREDIT BANK OF MOSCOW is a universal commercial bank providing the full range of banking services.

The Bank focuses on Moscow and the Moscow Region.

The Bank has been covered by the Russian Deposit Insurance System since 2004.

85% of the shares in CREDIT BANK OF MOSCOW are held by “ROSSIUM Concern”, LLC, whose stake is beneficially owned by Mr. Roman Ivanovich Avdeev.

7.5% of the shares are held by the European Bank for Reconstruction and Development, 2.9% by International Finance Corporation (IFC) and 4.6% by RBOF Holding Company I, Ltd. (100% owned by IFC Russian Bank Capitalization Fund belonging to the same group of companies as IFC).