Board of Directors

The Board of Directors is responsible for general governance issues, with the exception of those issues that are designated by law, or by PSB’s charter, as being the responsibility of the General Shareholders’ Meeting. The Board of Directors determines the Bank’s development strategy and objectives, elects the President (CEO) and members of the Management Board, and coordinates their activities.

The Board of Directors meets as necessary and takes decisions by simple majority vote when at least half of the elected Directors are present, unless otherwise required by law or PSB’s charter. The Directors, who are elected at the General Shareholders’ Meetings, may be re-elected an unlimited amount of times. Remuneration of the Directors is approved by the General Shareholders’ Meeting.

The new Board of Directors was elected by PSB’s shareholders at the annual General Shareholders’ Meeting held on 25 June 2010. The nine Directors include:

Alexey Ananiev (1964), Chairman of the Board since 2006 and member of the Board of Directors since 2001. Mr. Ananiev is also Chairman of the Advisory Council of Tekhnoserv. He graduated from the Moscow State Linguistics University in 1987 and Moscow Technical University of Communications and Informatics in 1990. In 2005, Mr. Ananiev received his MBA degree from the University of Chicago (USA).

Maxim Litvinov (1970), Deputy Chairman of the Board since 2008, member of the Board of Directors since 2007. Mr. Litvinov is Vice-President, Head of Strategy Development Department of PromSvyazCapital. He graduated from the Peoples’ Friendship University of Russia in 1993 and received his MBA degree from the Duke University’s Fuqua School of Business (USA) in 2004.

Alexander Levkovsky (1972), member of the Board of Directors since 2003. He is President and the Chairman of the Management Board. For additional information, see "Management Board".

Vladislav Zabelin (1975), member of the Board of Directors since 2008. Mr. Zabelin is president of PromSvyazCapital (PSC). Hе graduated from the Moscow State Institute of International Relations in 1997.

Yury Baev (1969), member of the Board of Directors since June 2010. Mr. Baev is Deputy Chairman of the Advisory Council of Tekhnoserv since 2006. In 1995, he graduated from the Moscow State Technical University after Bauman. In 2007 Mr. Baev received an Executive MBA degree from the Warwick Business School (UK).

Wilhelm Nüse (1952), member of the Board of Directors since June 2010 (representing Commerzbank Auslandsbanken Holding AG). Mr. Nuse is member of the Board of Managing Directors CAH AG. He graduated from the Munster University (Germany) in 1980 with an MBA degree.

Ilkka Salonen (1955), member of the Board of Directors since June 2010 (representing the European Bank for Reconstruction and Development). Mr. Salonen has vast knowledge in banking due to his work experience at International Moscow Bank, Renaissance Investment Management, and Sberbank. He graduated from the Helsinki University (Finland) in 1981.

Paul Ostling (1948), independent member of the Board of Directors since June 2008. Mr. Ostling is CEO of Phoenix – Neftegaz Services. He has more than 20 years experience with Ernst&Young. He graduated from the Fordham University (USA) in 1973.

Tam Basunia (1945), independent member of the Board of Directors since June 2008. Mr. Basunia is Chairman of Spice Factory and Voice Connections. He has more than 20 years experience with PricewaterhouseCoopers.