Bank of Moscow directors approve VTB reps for new board, bank presidency
MOSCOW. Jan 28 (Interfax) - The board of directors at Bank of Moscow has approved a number of VTB representatives as candidates for a new board and the bank's presidency.
"The board of directors confirmed candidates for the new membership. They include [CEO Andrei] Kostin and [First Deputy CEO Mikhail] Kuzovlev from VTB," current board member Yury Roslyak told the press.
Also among the confirmed candidates are Deputy Moscow Mayor Andrei Sharonov and head of the Moscow city property department Natalya Sergunina, Roslyak said.
VTB's deputy president and CEO, Herbert Moos, is also on the list of candidates.
Bank of Moscow's board of directors resolved on Friday to put the removal of the bank's president, Andrei Borodin, on the agenda for a shareholders meeting. A source close to the board told Interfax that the meeting would be held on March 4.
The source said the board nominated VTB's Kuzovlev to replace Borodin as president.
Kuzovlev was chairman of Guta Bank in 2004-2005 before this was taken over by VTB.
Borodin has been Bank of Moscow president since 1995.prior to that he was financial and economics advisor to the mayor of Moscow.
The City of Moscow owns 46.48% of Bank of Moscow. Borodin and his business partner, Lev Alaluyev, own 20.37% between them, subsidiaries of Capital Insurance Group own 17.1%, Goldman Sachs owns 3.9% and Credit Suisse owns 2.8%.