Otkritie Financial Corporation has appointed Mikhail Belyaev as CEO and Chairman of the Board.

Mikhail will be responsible for the overall operational management of the corporation. One of Mikhail’s primary responsibilities will be to support the continued growth and development of the company, strengthening Otkritie’s position in both Russian and international markets. Vadim Belyaev who previously held this position, will be appointed President of Otkritie.

Mikhail has a wealth of investment and stock market experience, the last four years of which have been with Otkritie as Senior Managing Director. Prior to this he was Deputy Director for LenMontazhStroy Investment and CEO for KIT Finance. Through his knowledge and experience, Mikhail has gained a strong, professional reputation in the Russian investment industry.

Vadim Belyaev, outgoing President, said: “With his considerable experience in the investment and stock markets Mikhail Belyaev has gained the reputation of a high class professional with excellent decision making capability. I’m quite sure that under his management OTKRITIE will achieve its ambitious future goals.”

Mikhail Belyaev added: “The Corporation has experienced significant growth over several years. Today we move forward with the ongoing development and expansion of our business. My major goal as CEO and Chairman of the Board will be further strengthening OTKRITIE’s position in both Russian and international markets.”