OREANDA-NEWS. August 17, 2011. BTA Bank (the “Bank”) informed of replacements in the senior management. Pursuant to resolutions made on July 29, 2011 at the Bank’s Board of Directors meeting, Mr. Marat Zairov was appointed as a Chairman of the Management Board starting from August 15, 2011. Mr. Anvar Saidenov who headed the Management Board and was a member o the Board of Directors until now has been appointed to the position of the Chairman of the Board of Directors. Power of Mr. Arman Dumaev as Chairman of the Board of Director have been terminated by his own decision.

According to the members of the Board Directors of BTA Bank, Mr Saidenov as a head of the Board of Directors will considerably contribute to the achievement of long-term strategic goals of this financial institution. Whereas appointment of Mr. Marat Zairov, who has an experience in the Kazakh banking sector, as a Chairman of the Management Board will help maximize efficiency and profitability of the Bank and help restore BTA’s positions in the financial services market.

Mr. Anvar Saidenov said: “I would like to commend Mr. Arman Dunayev’s important contributions to the Bank’s negotiations with creditors during the debt restructuring process. I am sure that appointment of Mr. Marat Zairov as a Chairman of the Management Board who is well known in the Kazakh financial market will contribute to the qualitative solutions for new tactical tasks of the bank”.

Mr. Marat Zairov considers his appointment for this position as a “serious professional challenge and an opportunity to contribute to the post-crisis recovery of BTA Bank -financial institution that has a great influence on the economy of the country as a whole”.

Prior to his appointment to the Management Board of BTA Bank 43-year old Kazakh banker Mr. Marat Zairov held key positions in leading Kazakh banks including long-term work as Deputy Chairman of the Management Board of JSC Halyk Bank and Chairman of JSC Nurbank.