The board of directors of BTA Bank recently decided to terminate the appointment of Kadyrzhan Damitov as chairman of the management board as of Feb. 26 and designate Magzhan Auezov as the new chairman.
The decision was made as part of the sale of the bank's shares by its major shareholder, SWF Samruk-Kazyna, to a consortium of investors represented by Kazkommertsbank and Kazakhstan businessman Kenes Rakishev.
Damitov will continue to work as a member of the board of directors of BTA Bank and will focus on the most difficult and strategically important areas of the financial institution.
Auezov, the new chairman of the bank's management board, will remain a member of Kazkommertsbank's management board and will lead the process of integration with BTA Bank.
"We are satisfied with this appointment: the BTA's management board in a short time will have to create practicable and effective mechanisms of interaction between two banks prior to the potential merger. It is important to ensure stable operation of the bank in the interest of BTA's customers," Nina Zhussupova, a member of the board of directors, said.
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