Alexander Lorenz has been appointed Chairman of the Council of theNon-State Pension Fund Raiffeisen (NPF Raiffeisen), whereas ElenaGorshkova has been appointed Executive Director of the fund.
Alexander Lorenz previously worked with the European Bank forReconstruction and Development (EBRD) in both London and Moscow and withING Group in Russia. At ING Alexander was Director responsible forinsurance and pensions and amongst other things helped establish the INGNon-state Pension Fund, where he was also General Director. Alexander isfurthermore a member of the Executive Board of the Association ofEuropean business (“AEB”) in Russia, a non-profit organization representing European business in the Russian Federation.
Elena Gorshkova has been with Raiffeisenbank since 1998 where she headedcustody sales and marketing. She previously worked at the Moscow officesof ING Bank and Merrill Lynch with a specialization in securitiesmarkets. Elena joined NPF Raiffeisen in November 2004 as head of thesales and marketing department.
NPF Raiffeisen (former Dobroe Delo) was established in 1994 and renamedto NPF Raiffeisen in 2004, after ZAO Raiffeisenbank Austria became thesole shareholder of the fund. NPF Raiffeisen currently manages over 22000 pension accounts, providing services to individual and corporateclients. As of 1st October 2005, the pension reserves of NPF Raiffeisenamounted to RUR 53 mln. For the period from 1st January to 31st December2004, the fund reported an investment return of 13,25% on the reservesheld on its pension accounts. The pension reserves of the fund aremanaged by the asset management company Raiffeisen Capital.
“In anticipation of further developments on the Russian pension reform we are currently considerably expanding the activities of the NPF Raiffeisen in this area”, says Alexander Lorenz. Elena Gorshkova adds: “Our future successful development is closely linked to that of ZAO Raiffeisenbank in Russia. In all Moscow and regional branches clients will be able to open individual accounts and transfer their savings from the state pension fund to NPF Raiffeisen. One of the Fund’s main principles is offering superior customer services to both individual and corporate clients”.
NPF Raiffeisen is one of the largest Russian non-state pension fundsthat offers voluntary pension provision and pension insurance (2ndPillar) programs for individual and corporate clients. As of 2004 NPFRaiffeisen is among top 20 non-state pension funds by the total amountof pension savings received under 2nd Pillar and takes one of theleading positions by the pension savings per person.
ZAO Raiffeisenbank Austria is a subsidiary of Raiffeisen InternationalBank-Holding AG (Raiffeisen International). Raiffeisen International isa fully consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG(RZB), which owns 70 per cent of the common stock. The remaining 30 percent is free float including the shares of the International FinanceCorporation (IFC) and the European Bank for Reconstruction andDevelopment (EBRD), which own about 3 per cent each of the capitalstock. Raiffeisen International''s shares are traded on the Vienna StockExchange. Raiffeisen International is the steering company for 15subsidiary banks and 14 leasing units with more than 970 outlets inCentral and Eastern Europe (CEE). RZB-Austria is the central institutionof the Austrian Raiffeisen Banking Group, the country''s most powerfulbanking group.
For further information please contact Alexander Baru, Head of marketingNPF Raiffeisen and asset management company Raiffeisen Capital, bytelephone 7 (095) 745-5211 (ext. 3904) or e-mail email@example.com.