25 Oct 2010 16:23

Olga Dergunova to oversee VTB

MOSCOW. Oct 25 (Interfax) - Olga Dergunova, who sits on VTB's managing board, will head the banking group's subsidiary department, VB said in a statement.

Her appointment comes into effect on November 1, 2010.

Alexander Yashnik was acting head of this department prior to Dergunova's appointment, the bank told Interfax.

Vasily Titov, the first deputy chairman of VTB's managing board, will continue to oversee the development of the bank's subsidiaries.

Dergunova currently overseas on of VTB's corporate divisions (secondary division focusing on retail operations, IT and telecommunications).

Over recent months, VTB has started merging its corporate and investment divisions. Vladimir Tatarchuk from Alfa-Bank joined VTB this past summer to work as co-head of the newly merging division. He was appointed as deputy chairman of VTB's managing board.

Along with VTB Capital's president Yury Soloviev, Tatarchuk is responsible for the integration of VTB's corporate and investment operations. The merger of these two divisions should reach its conclusion sometime in 2011.

VTB Group currently has 12 subsidiary banks in operation outside of Russia: in the CIS (Armenia, Georgia, Ukraine, Belarus, Kazakhstan and Azerbaijan), Europe (Austria, Cyprus, Germany and France), Africa (Angola) and Asian (Vietnam).