Today Alfa-Bank announced its Board of Directors’ decision to promote Mr. Petr Smida to the position of First Deputy Chairman of the Board of Directors. In his new role, Mr. Smida will be primarily focused on coordinating the Board’s ongoing strategic development of Alfa-Bank, further development of the Bank’s top management, and continuing to adopt successful international standards and practices.

At the same time, the Board of Directors has decided to appoint Mr. Rushan Khvesyuk, Chairman of the Executive Board, to the position of acting Chief Executive Officer.

The Board of Directors’ decisions are aimed at strengthening the Bank’s leading position in the Russian banking market, as well as further developing the Bank’s strategic initiatives.