Russia's MCB appoints Korzhov as chairman, candidacy approved by Central Bank

MOSCOW. Dec 13 (Interfax) - Maxim Korzhov has been appointed chairman of the board at Moscow Credit Bank (MCB); his candidacy was approved by the Central Bank of Russia, the bank said.

Korzhov was appointed MCB's acting board chairman at the end of November. He replaced Nikolai Katorzhnov, who led the bank from June 2022.

Katorzhnov requested that the supervisory board relieve him of his position as head of the bank. His decision was "due to personal circumstances incompatible with the workload of this role," MCB said at the time. It is assumed that Katorzhnov will remain with MCB as an advisor on international business and foreign economic activities.

As deputy board chairman, Korzhov oversaw corporate client relations. He has been with MCB since 2019 and played a key role in establishing the bank's corporate and investment division.

MCB is the main financial asset of the Rossium group. In October 2024, Roman Avdeyev, long considered Rossium's principal owner, transferred his stake to entities linked to Sergei Sudarikov, one of the major beneficiaries of the Region group according to the most recent disclosed information.

Katorzhnov was a minority shareholder of Rossium. His company, Lunaray Investments Ltd., acquired a 9.9% stake in Rossium in September 2017. Rossium has not disclosed its ownership structure in recent years.

As of Q3 2024, Moscow Credit Bank ranked 7th in terms of assets in the Interfax-100 ranking by Interfax-CEA.