OREANDA-NEWS. October 5, 2011. Today AccessBank announced that its Shareholders have appointed a new Chair, Mr Orhan Aytemiz, and a new member Ms Eva Witt, to the Bank's Supervisory Board. Mr Aytemiz, Director of Black Sea Trade and Development Bank's Project Finance Group (BSTDB), has been a member of AccessBank's Supervisory Board since the foundation of the Bank in 2002, but now takes up the position of Board Chair. Ms Witt joins the Board for the first time, but also served as KfW's Director for Eastern Europe, Caucuses and Central Asia, on the Board of AccessHolding – a shareholder of AccessBank (16.53%) – and thus has a deep knowledge and understanding of the region and AccessBank. Both KfW (Kreditanstalt für Wiederaufbau – the Development Bank of the German Federal Government) and BSTDB are also shareholders of AccessBank, holding a 20% share each.

The appointments followed the resignation from AccessBank's Board of the previous Chair, Mr Michael Jainzik. Mr Jainzik, previously a Principal Sector Economist in KfW's Frankfurt Offices, resigned from AccessBank's Board after taking up the position of Director of KfW's Office in Namibia, which made it impracticable to remain on AccessBank's Board. Mr Jainzik had served as both a member and Chair of AccessBank's Board since December 2006, but previously also had responsibility for AccessBank within KfW, since the Bank's inception.

AccessBank General Manager Andrew Pospielovsky, welcoming the new appointments said "We are extremely grateful to Mr Jainzik for his long-running service and contribution to the development of AccessBank. At the same time we are grateful to the shareholders for providing such a strong board. Both Mr Aytemiz and Ms Witt are among the most senior and experienced individuals in their respective organisations and their appointments to AccessBank's Board demonstrate the shareholders commitment to the Bank."

Mr Aytemiz, upon taking up his duties as Chair, said "Having been a part of AccessBank from its birth and through its rapid growth, it is now both an honour and great responsibility to take on duties of Chair of the Supervisory Board. I hope that, together with the management and staff of the Bank we can continue to contribute to the development and diversification of Azerbaijan's Economy".

Ms Witt, joining the Board, said "As a Director in KfW and on the Board of AccessHolding, I have watched AccessBank's rapid growth and success for many years. I now look forward to playing a direct role in the Bank and the development of small business in Azerbaijan".