Bloomberg News

VTB May Elect Melikyan, Ex-Sistema Head to Board, Vedomosti Says

January 12, 2012

Jan. 12 (Bloomberg) -- Gennady Melikyan, a former first deputy chairman of Russia’s central bank, and Leonid Melamed, a former head of telecommunications and oil holding AFK Sistema, were nominated to the board of state-run lender VTB Group, Vedomosti said, citing Economy Ministry recommendations.

Melikyan left the banking regulator in September, soon after VTB gained control of the Bank of Moscow, which had unexpected bad loans, Vedomosti said. The banker denied that was the reason for his departure, the newspaper said.

--Editor: Torrey Clark

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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