Bank of Russia loses two deputy governors in major reshuffle


(Bloomberg) – The Bank of Russia has announced its biggest reorganization of senior officials in years, including the departure of First Deputy Governor Sergey Shvetsov.

Shvetsov, who has overseen financial markets and ESG regulation, will leave on March 21, according to a Friday statement from the central bank which also announced that Deputy Governor Dmitry Skobelkin would leave on January 25. Both were members of the bank’s policy rate setting committee. Advice.

Shvetsov will become chairman of the supervisory board of the Moscow Stock Exchange, the Interfax news service reported on Friday, citing a familiar person he did not identify.

The bank will promote Deputy Governor Vladimir Chistyukhin to the post of Senior Deputy Governor responsible for overseeing the strategic development of financial markets.

Philipp Gabunia will be elevated to deputy governor of insurance market manager and will be responsible for insurance and microcredit matters, according to the bank. The head of the Deposit Insurance Agency, Yuri Isayev, will become deputy governor, overseeing financial supervision, the bank said.

When Bank of Russia Governor Elvira Nabiullina launched a purge of lenders in 2014, revoking the licenses of hundreds of banks, one of Isayev’s deputies at the agency resigned and left Russia after been charged with corruption.

The last major personnel change at the regulator took place in 2018 when Alexey Zabotkin was appointed deputy governor and joined the monetary policy department of the Bank of Russia from the VTB Group.

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