OREANDA-NEWS. Kazkommertsbank (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release:

Following the completion of administrative formalities, the Board of Directors of Kazkommertsbank has formally named Marc Holtzman to serve as chief executive officer. The board officially selected Mr. Holtzman to serve in this role on April 28, 2016.

According to Kazakhstan legislation, since Mr. Holtzman is not a citizen of Kazakhstan, certain administrative permits and formalities were required which have now been obtained. Mr. Holtzman has served as Chairman of Kazkommertsbank from March 2015 through April 2016 and continues to serve as a member of the Board of Directors.