Kazkommertsbank JSC about changes in its Executive committee

/KASE, February 8, 05/ - Press-service of Kazkommertsbank JSC (Almaty), whose securities are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, has spread press-release about results of the conference of bank's Board of directors, which was held on February 4 of 2005. He press-release says during the conference the Board of directors elected there new managing directors for bank's Executive committee -Baurjan Kuvatov, Baurjan Zhumagulov and Alexandr Barsukov. The Board has also examined results of bank's financial and economic activity in 2004, discussed information on credit portfolio condition and on carried out in the past year work on retail business development, increasing of leasing and mortgage crediting. The considerable attention was paid on bank's place and role in realization of industrial-innovative program, and also in execution of orders and instruction of the country's president given at the IV Congress of financial institutions. Below is a brief characteristics of new members of the Executive committee of Kazkommertsbank JSC according t information presented by bank's press-service. Baurjan Kuvatov, 43 years old, is responsible for economic and informational and technical safety of the bank. He is a colonel of police, who has many-year experience of working on various posts of operating- domineering staff of MIA of Kazakhstan, and also the Committee of the national safety of Kazakhstan. In various times he headed subdivisions of MIA and CNS on controlling economic felonies and corruption, organized crime, and antiterror subdivision, Mr. Kuvatov took part in investigation and clearance of crimes, which were of great resonance in the republic. The new managing director of Kazkommertsbank JSC graduated from Karaganda Police higher school of MIA of USSR, later - International law Academy of FBI in Budapest. Kuvatov has state awards: By Kazakhstan President's orders in the year 2001 he was awarded with the medal "Zhauyngerlik erligi ushin" (For military valour), in 2001 - medal "10 years of Independence f the Republic of Kazakhstan". Baurjan Zhumagulov, 35 years old, has been appointed for the post of managing director of corporate banking. He will control activity of Corporate relations department #3, and also business in Kyrgyzstan. Before coming to Kazkommertsbank JSC he worked as the financial director in Caspian industrial-financial group, in 2001-2002 he filled the post of managing director in Development Bank of Kazakhstan JSC, in 2001 he filled the post of financial director of the national company KEGOC. Until 2000 Zhumagulov headed Banking supervision department in the National Bank of Kazakhstan. He graduated from the Institute of the national economy in Almaty in 1991, and three years later he took MBA degree in Saitam university (Japan). He knows Kazakh and English. "On the reason I had the possibility to deal with business I see many unused opportunities for the bank in realization of business-projects jointly with our clients. Moreover, economic situation in the country promotes to it today. In my opinion bank's task is to grow together with our clients and I'm going to solve it", - bank's press-service quotes Zhumagulov. Alexandr Barsukov, 33 years old, has been appointed for the post of managing director-director of legal department of Kazkommertsbank JSC. He began lawyer's career after he graduated from faculty of law in KazSU named after Al Farabi in 1993. In 1994-1996 he worked in Kazkommertsbank JSC filling various posts in legal department, including the post of the chief of contract-legal department. Mr. Barsukov has the great operational experience in international law firms, including the sphere of banking, finance, project and corporate financing, securities. He knows English. In 2001-2002 he filled the post of deputy chief administrative director, adviser of the president of Kazakhtelecom OJSC. He has been invited to work in Kazkommertsbank JSC as the Managing partner of Kazakhstan office of international law firm McGuiderWoods. Barsukov assumes "the constantly growing client base of Kazkommertsbank, usage of complicated financial instruments, introduction of new banking products and technologies require increase of control for risks, the considerable part of which is legal risks, while bank makes operations. Minimization of such the risks, bank's acting in compliance with Kazakhstan legislation and standards of international law enforcement practice - these are the tasks I have to solve". [2005-02-08]