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Andrey Veklov appointed of head of Raiffeisenbank’s Private Banking division

As head of Private Banking, Andrey Veklov will be responsible for developing and implementing the division's strategy for working with high net worth individuals, setting the division's tasks and monitoring their execution, and expanding the range of products and services offered to wealthy clients.

Andrey Veklov graduated from Moscow State University with a degree in economics and also has a degree in international trade and finance from the University of Wisconsin-Madison.

Before coming to Raiffeisenbank, Andrey Veklov served with Renaissance Investment Management (part of the Renaissance Capital group of companies) as vice president and head of the VIP clients division. From 2005 to 2007, Andrey Veklov was with Citibank in various managerial positions, responsible for development and the client base, distribution channels, and increasing sales. Prior to that, he worked with Apple IMC Russia as director of development.

Raiffeisenbank CEO's Johann Jonach said the new appointment is part of the effort to develop Private Banking, including a qualitative improvement of Raiffeisenbank's team of Private Banking professionals: «Intensive development of Private Banking is a top priority for Raiffeisenbank. We are devoting increasing attention to developing and improving the product line, as using new technologies to serve our clients. Andrey Veklov combines extensive experience serving VIP clients with a profound knowledge of the banking business and financial products. I am certain that he will be a worthy leader for the division, accelerating its development.»

ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is the largest foreign-owned bank in Russia, ranking 7th in terms of assets among top Russian banks based on 1Q 2008 results (Interfax-CEA). Raiffeisenbank is ranked 8th in terms of corporate lending based on 1Q 2008 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 4th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 1Q 2008 results.

Raiffeisen International operates one of the largest banking networks in CEE. 17 markets of Europe’s growth region are covered by subsidiary banks, finance leasing companies, a representative office and a number of other financial service providers. Over 14 million customers are attended to through more than 3,000 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 68.5 per cent of the common stock. The balance is free float, the shares are traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group.


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