OREANDA-NEWS. June 27, 2008. As head of Private Banking, Andrey Velkov will be responsible for developing and implementing the division's strategy for working with high net worth individuals, setting the division's tasks and monitoring their execution, and expanding the range of products and services offered to wealthy clients, reported the press-centre of Raiffeisenbank.

Andrey Velkov graduated from Moscow State University with a degree in economics and also has a degree in international trade and finance from the University of Wisconsin-Madison.

Before coming to Raiffeisenbank, Andrey Velkov served with Renaissance Investment Management (part of the Renaissance Capital group of companies) as vice president and head of the VIP clients division. From 2005 to 2007, Andrey Velkov was with Citibank in various managerial positions, responsible for development and the client base, distribution channels, and increasing sales. Prior to that, he worked with Apple IMC Russia as director of development.

Raiffeisenbank CEO's Johann Jonach said the new appointment is part of the effort to develop Private Banking, including a qualitative improvement of Raiffeisenbank's team of Private Banking professionals: "Intensive development of Private Banking is a top priority for Raiffeisenbank. We are devoting increasing attention to developing and improving the product line, as using new technologies to serve our clients. Andrey Velkov combines extensive experience serving VIP clients with a profound knowledge of the banking business and financial products. I am certain that he will be a worthy leader for the division, accelerating its development".