Members of the Management Board
In 2019, Vadim Kulik (29 October 2019) joined the Management BoardThe biographies of the members of the Management Board are as of 31 December 2019; their powers and functions are as of 29 February 2020. of VTB Bank as Deputy President and Chairman of the Board, and Oleg Smirnov (18 January 2019) joined as a member of the Management Board.
Dmitry Olyunin (31 January 2020), Oleg Smirnov (13 January 2020) and Valery Chulkov (17 January 2020) left the Board.
Term of office in accordance with employment contract: 10 June 2017 to 9 June 2022
President and Chairman of the Management Board
Born in 1956
Professional activities:
Since 2002 President and Chairman of the VTB Bank Management Board
For a detailed biography, see the Corporate Governance / Supervisory Council.
Term of office in accordance with employment contract: 10 June 2017 to 9 June 2022
First Deputy President and Chairman of the Management Board
Oversees the legal and administrative areas, as well as work with non-core and bad assets
Born in 1977
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0.0003 %
% of charter capital ► 0.00006 %
Education:
1998 – Lomonosov Moscow State University, law degree with a specialisation in jurisprudence
Professional activities:
Joined VTB Bank in 2002
Since February 2018, First Deputy President and Chairman of the Management Board
Before February 2018, held the following positions in the Bank’s legal department: Deputy Head of Department, Head of Department, Vice President (Head of Department), Senior Vice President (Head of Department), Senior Vice President, member of the Management Board, Deputy President and Chairman of the Management Board
1999–2002 Member of theMoscow City Bar Association
Positions in other organisations:
- Chairman of the Board of Directors of VTB Debt Centre
- Chairman of the Board of Directors of Hals-Development
- Chairman of the Board of Directors of BM Bank
- Chairman of the Board of Directors of Dynamo Management Company
Term of office in accordance with employment contract: 10 June 2017 to 9 June 2022
First Deputy President and Chairman of the Management Board
Oversees the Corporate-Investment Business global business line
Born in 1970
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0.01819 %
% of charter capital ► 0.00362 %
Education:
1994 – Plekhanov Russian University of Economics, degree in economics with a specialisation in international economic relations
2002 – London Business School, Master of Business Administration (MBA)
Professional activities:
Joined VTB Bank in 2008
Since May 2011, First Deputy President and Chairman of the Management Board.
Prior to May 2011, held the following positions: Senior Vice President, President of VTB Capital
2006–2008 Head of Investment Banking, First Deputy Chairman of the Management Board, Deutsche Bank
2002–2006 Director, Head of Eastern European Operations at Deutsche Bank, London
Positions in other organisations:
- Chairman of the Board of Directors of VTB Capital, VTB Capital Holding, VTB Capital IB Holding, VTB Leasing, T2 RTK Holding
- Member of the Board of Directors of VTB Capital Investment Management Holding AG, VTB Capital Private Equity Holding AG, Sogaz, United Grain Company, Dynamo Moscow Football Club
Term of office in accordance with employment contract: 10 June 2017 to 9 June 2022
Deputy President and Chairman of the Management Board
Oversees the Small and Medium Business global business line
Born in 1974
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0 %
% of charter capital ► 0 %
Education:
1996 – St. Petersburg State University of Economics and Finance, degree in economics with a specialisation in national economy
Professional activities:
Joined VTB Bank in 2006
Since November 2011, Member of the Management Board
Before November 2011, Head ofNorth-Western Regional Centre; Senior Vice President, Chairman of the Management Board, First Deputy Chairman of the Management Board, Deputy Chairman of the Management Board of VTB Bank North-West; Deputy Head of Vneshtorgbank’s St. Petersburg branch
2004–2006 Advisor to the General Manager and Deputy General Manager of Guta-Bank, North-West branch
1996–2004 Consultant with the Liquidity Management Department, Consultant with the Transfer Operations Department, Consultant with the Department of Financial Instruments, Senior Consultant with the Brokerage Department, Chief Acquiring and Authorisation Expert, Head of the Acquiring and Authorisation Department at Industry and Construction Bank
Positions in other organisations:
- Chairman of the Board of Directors of VTB Capital, VTB Capital Holding, VTB Capital IB Holding, VTB Leasing, T2 RTK Holding
- Chairman of the Board of Directors of VTB Bank (Belarus), VTB Bank (Kazakhstan), West Siberian Commercial Bank
- Member of the Board of Directors of VTB Capital Holding and of Vozrozhdenie Bank
- Chairman of the Supervisory Council of VTB Bank (Azerbaijan)
- Member of the Board of the Leningrad Regional Chamber of Commerce and Industry
- Member of the Board of Trustees of the Federal State Budget Institution of Higher Professional Education St. Petersburg State University of Economics
Term of office in accordance with employment contract: 10 June 2017 to 9 June 2022
Deputy President and Chairman of the Management Board
Born in 1965
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0.00000147 %
% of charter capital ► 0.00000029 %
Education:
1987 – Plekhanov Russian University of Economics, degree in economics and mathematics with a specialisation in economic cybernetics
2014 – Russian Presidential Academy of National Economy and Public Administration, Information Technologies in Public Administration programme
Professional activities:
Joined VTB Bank in 2016
Since July 2016, Deputy President and Chairman of the Board
2007–2012, Member of the Management Board
2012–2016 Deputy Minister of Economic Development of the Russian Federation and Head of the Federal Agency for State Property Management
2007–2012 Member of the Management Board of VTB Bank
1994–2007 General Director of Microsoft Rus, President of Microsoft Russia and CIS countries
Positions in other organisations:
- Director of the Higher School of Management at St. Petersburg State University
- Member of the Board of Trustees of the Higher School of Management at St. Petersburg State University, the Russian Academy of Education, the International Banking Institute and the Target Capital Fund of the National Research University Higher School of Economics
- Member of the Management Board of the Forum Analytical Centre non-profit foundation
- Member of the Board of Directors of IBS IT Services
Term of office in accordance with employment contract: 29 October 2019 to 9 June 2022
Deputy President and Chairman of the Management Board
Oversees risk management, operational business support, data analysis and modelling, technological development and IT
Born in 1972
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0 %
% of charter capital ► 0 %
Education:
1995 – Mendeleev Russian University of Chemical Technology, degree in chemical engineering technology with a specialisation in chemical technology for advanced energy materials
Professional activities:
Joined VTB Bank in 2019
Since October 2019, Deputy President and Chairman of the Management Board
September – October 2019 Advisor to the President and Chairman of the Management Board
2017–2019 Deputy Chairman of the Management Board of Gazprombank
2017 Member of the Management Board, First Deputy Chairman of the Management Board of Otkritie Holding
2012–2017 Member of the Management Board, Deputy Chairman of the Management Board of Sberbank of Russia
Positions in other organisations:
- Director of the Centre for Digital Competencies of the Russian Academy of National Economy and Public Administration under the President of the Russian Federation
- Member of the Board of Directors of the National Clearing Centre
- Member of the Supervisory Council of the Russian National Reinsurance Company
Term of office in accordance with employment contract: 10 June 2017 to 9 June 2022
Deputy President and Chairman of the Management Board
Oversees work with clients from backbone industries
Born in 1955
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0.00046 %
% of charter capital ► 0.00009 %
Education:
1982 – Novosibirsk Agricultural Institute, degree in agronomy
2005 – Russian Academy of Public Administration under the President of the Russian Federation, degree in management with a specialisation in state and municipal administration
Professional activities:
Joined VTB Bank in 2002
Since August 2016, Deputy President and Chairman of the Management Board
Since December 2008, Member of the Management Board
Before 2008, Head of the First Corporate Business Division and Senior Vice President, Senior Vice President and Head of Mid-Size Business in the First Corporate Business Division, Senior Vice President of the First Corporate Business Division, Vice President and Head of Large Corporate Business in the Fourth Corporate Business Division, Vice President; Counsellor to the President and Chairman of the Management Board
2001–2002 Chairman of the Council of Experts in Project Financing and Forecasting at Lanta-Bank
1994–2002 Head of the State Programmes Division, Head of the Foreign Economic Relations Division in the Administrative Directorate of the President of the Russian Federation
Term of office in accordance with employment contract: 14 July 2017 to 9 June 2022.
Deputy President and Chairman of the Management Board
Oversees the Retail Business global business line
Born in 1969
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0.00001135 %
% of charter capital ► 0.0000026 %
Education:
1992 – Moscow Engineering Physics Institute, degree in engineering physics with a specialisation in automation and electronics of physical installations
Professional activities:
Joined VTB Group in 2003
Since July 2017, Deputy President and Chairman of the Management Board of VTB Bank
2010–2017, Deputy President and Chairman of the Management Board of VTB24
2006–2010, Senior Vice President, Director of the Mortgage Lending Department at VTB24
2003–2006, Head of the Mortgage and Consumer Lending Department at Vneshtorgbank.
2001–2003 Head of the Credit Department, Deputy Chairman of the Management Board of DeltaCredit Bank
Positions in other organisations:
- Chairman of the Board of Directors of VTB Pension Fund and of Sarovbusinessbank
- Deputy Chairman of the Board of Directors of Vozrozhdenie Bank and of West Siberian Commercial Bank
- Member of the Supervisory Council of Post Bank
- Member of the Strategic Planning Committee of the Supervisory Council of DOM.RF
Term of office in accordance with employment contract: 10 June 2017 to 9 June 2022
Member of the Management Board
Oversees risk management units
Born in 1973
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0 %
% of charter capital ► 0 %
Education:
1996 – Lomonosov Moscow State University, degree in philosophy, with a qualification to teach philosophy
1999 – Russian Foreign Trade Academy of the Ministry of Trade of the Russian Federation, degree in economics (with a foreign language), with a specialisation: global economy
2007 – London Business School to the University of London Degree, Master of Business Administration (MBA)
Information about academic degrees:
Candidate of Economic Sciences (Decision No.1 of the dissertation council of theIMEMO Institute of the Russian Academy of Sciences of 9 February 2000)
Professional activities:
Joined VTB Bank in 2013
Since November 2015, Member of the Management Board
Before November 2015, Head of the Risk Department and Senior Vice President
2009–2013 First Vice President, Director of the Strategic Risk Department, Director of the Restructuring and Bad Loan Department, UniCredit Bank
2008–2009 Member of the Management Board, Russian Standard Bank
1999–2008 Executive Director of the Retail Sales and Private Banking Services Department, Head of the Department for Legal Entities, UniCredit Bank (until 26 December 2007, International Moscow Bank; until 28 September 2001, Bank Austria CreditAnstalt (Russia))
Positions in other organisations:
- Member of the Supervisory Council of VTB Bank (Georgia)
- Member of the Board of Directors of BM Bank and of Vozrozhdenie Bank
- Member of the Board of VTB Bank (Armenia)
Term of office in accordance with employment contract: 10 June 2017 to 9 June 2022
Member of the Management Board
Oversees issues related to internal control and audit
Born in 1954
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0 %
% of charter capital ► 0 %
Education:
1976 – Lomonosov Moscow State University, degree in economics and mathematics with a specialisation in economic cybernetics
2001 – Academy of National Economy under the Government of the Russian Federation, degree in economics with a specialisation in finance and credit
2001 – Academy of National Economy under the Government of the Russian Federation, Executive Master of Business Administration (EMBA) with a specialisation in banking management
Information about academic degrees:
Candidate of Economic Sciences (decision of the council at the Central Economics and Mathematics Institute of the Academy of Sciences of the Soviet Union of 7 February 1983, minutes No.1)
Professional activities:
Joined VTB Bank in 2002
Member of Management Board from 2002 to 2007 and since September 2009
2007–2009 Senior Vice President, member of the Management Board of Nomos-Bank
2002–2007 Vice President, Senior Vice President, member of the Management Board of Vneshtorgbank
1999–2002 Development Director, Development and Strategic Planning Director, USSR Bank for Foreign Economic Activities
1999 Head of the Department for Calculation of the Tax Base and Tax Revenue Planning of the Russian Ministry of Taxes and Duties
Positions in other organisations:
Member of the Board of Directors of BM Bank
Term of office in accordance with employment contract: 26 November 2018 to 9 June 2022
Member of the Management Board
Oversees the finance function (Finance Department and Accounting and Reporting Department)
Born in 1977
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0 %
% of charter capital ► 0 %
Education:
2000 – Omsk State University, degree in economics with a specialisation in economic theory
2000 – Technical University of Munich
Professional activities:
Joined VTB Bank in 2010
Since November 2018, Member of the Management Board
Prior to November 2018, Deputy Head of the Finance Department; Senior Vice President, Head of the Financial Department; Senior Vice President
2004–2010 Head of the Chief Executive Directorate of Economics and Finance, Head of the Department of Economics and Finance of the Chief Executive Directorate for Financial Management, Head of the Controlling and Information Security Division of the Internal Control Service, Head of Directorate of Controlling and Information Security Division of the Internal Control Service of Uralsib
Positions in other organisations:
- Member of the Board of Directors of BM Bank
- Member of the Supervisory Council of Post Bank and of VTB Bank (Europe)
- Member of the Board of VTB Bank (Armenia)
- Member of the Board of Directors of the Dynamo-Moscow Football Club
Left the Management Board on 31 January 2020
First Deputy President and Chairman of the Management Board
Oversaw the finance function (Finance Department and Accounting and Reporting Department), risk management, and was also responsible for strategic and corporate development, business process transformation
Born in 1968
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0 %
% of charter capital ► 0 %
Education:
1993 – Lomonosov Moscow State University, degree in economics
1994 – Paris Institute of Political Studies, degree in economics and finance
2009 – Paris Dauphine University, master’s degree in economics, banking and finance
Professional activities:
Worked at VTB Bank from 2018 and was Vice President
from 2004 to 2006; was Vice President and Head of the Coordination and Analysis Office of the Investment Division of Vneshtorgbank
From May 2018, First Deputy President and Chairman of the Management Board
2013–2018 Chairman of the Board, Rosbank
2011–2013 First Vice President, President and Chairman of the Management Board of TransCreditBank
2006–2011 First Deputy Chairman of the Management Board of Industrial and Construction Bank (later renamed VTB North-West Bank) until 2007; after 2007, Chairman of the Management Board of VTB North-West Bank)
Positions in other organisations:
- Chairman of the Board of Directors of Vozrozhdenie Bank
- Member of the Board of Directors of VTB Capital Holding
- Category B Director at Commonwealth Group SA.
- Member of the Board of Trustees of St. Petersburg State University
Left the Management Board on 17 January 2020
Member of the Management Board
Oversaw the department of business operations support
Born in 1960
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0 %
% of charter capital ► 0 %
Education:
1982 – St. Petersburg Naval Institute
2002 – Financial Academy under the Government of the Russian Federation, degree in economics with a specialisation in finance and credit
Professional activities:
Joined VTB Group in March 2008
From May 2018, Member of the Management Board of VTB Bank
Before May 2018, Head of the Department of Business Operations Support and Senior Vice President of VTB Bank, Member of the Management Board and Director of the Operations Department of VTB24
2006–2008 Corporate Director and Head of the Banking Services Operations Department, ABN AMRO Bank
2005 Director of the Retail Operations Centre at Alfa-Bank
1995–2005 Lead Economist, Senior Economist in the Foreign Currency Security and Control Department, Head of the Foreign Currency Dealing Department at KredoBank, Deputy Chairman of the Management Board
Positions in other organisations:
- Member of the Board of Directors of Multicard
Left the Management Board on 13 January 2020
Member of the Management Board
Oversaw the Retail Business Department, the Mortgage and Car Loan Department, the Digital Business Department, the Customer Service Department and the Retail Business Development Department at Subsidiaries
Born in 1975
Ownership of shares in the Bankas of 31 December 2019
% of ordinary shares ► 0 %
% of charter capital ► 0 %
Education:
1996 – Ural State University of Economics, degree in economics with a specialisation in finance and credit
2001 – Ural State University of Economics, candidate of economic sciences
Professional activities:
Joined VTB Bank in November 2018
From January 2019 to January 2020 member of the Management Board of VTB Bank
2013–2018 Vice President of Sberbank and Chairman of Moscow Bank Sberbank
2012–2013 Chairman of the Central Russian Bank Sberbank of Russia
2007–2012 Chairman of the Management Board of Sberbank of Russia’s subsidiary in Kazakhstan
2007 Advisor to the First Deputy Chairman of the Management Board of the Sberbank of Russia head office
1996–2007 Urals Bank Sberbank of Russia
Positions in other organisations:
- Chairman of the Supervisory Council of VTB Bank (Georgia)
- Chairman of the Board, VTB Bank (Armenia)
- Professor in the Department of Finance, Money Supply and Credit, Higher School of Economics and Management, Ural Federal University
Remuneration for members of the Management Board
The Supervisory Council is responsible for determining the amount of the remuneration and compensation paid to members of the Management Board. Salaries, including compensation and incentive payments, are fixed in the employment contracts of the Management Board members.
Period | Amount of remuneration |
---|---|
2019 | 2,230,000 |
2018 | 1,615,834 |
2017 | 1,399,794 |
2016 | 361,805 |
2015 | 399,031 |
In accordance with the policy of awarding bonuses to key Group executives, the Management Board of VTB Bank receives 60 % of its annual bonus at a time, and 40 % is deferred for a period of three years. The deferred amount is paid in three equal instalments one, two and threeyears after the grant date, subject to the achievement of certain non-vesting conditions. Half of the deferred amount is paid in cash, and the other part is paid through a cash-settled, share-based payment plan. The share-based payment expense for 2019 was RUB 0.9 billion (compared to RUB 0.4 billion in 2018). As of 31 December 2019, the liability arising from cash-settled, share-based payment transactions amounted to RUB 1.2 billion.