OREANDA-NEWS. April 12, 2012. Neil Withers, PSB Vice President for Capital Strategy and Investor Relations has been elected Vice President of the CFA Association of Russia at the Association's Annual Board of Directors Meeting, reported the press-centre of Promsvyazbank.

PSB First Vice President Alexandra Volchenko comments on the appointment: “We are proud that Neil Withers, who joined our team earlier this year, has been honoured by one of the most respected financial market professional communities. This reflects the level of professionalism which is Promsvyazbank’s corporate standard”.

The Board of Directors of the CFA Association of Russia is elected annually and consists of nine representatives of professional financial market participants. This year, the members elected 9 Board members from among 14 nominees, the most contested election in the 8 year history of the CFA Association of Russia.

The CFA Association of Russia is a professional investment community, which includes portfolio managers, investment advisors, educators, and other financial experts. Association members hold CFA (Chartered Financial Analyst) certificates, or are on track to getting it. Currently, 370 investment professionals are members of the CFA Association of Russia.

The CFA Institute is an international nonprofit organization that unites more than a hundred thousand investment professionals around the world and anually certifies thousands of investment and finance professionals as Chartered Financial Analysts (CFA). Today, more than 105,000 people in the world hold the honorary title of Chartered Financial Analyst, of which 600 in Russia.

About Promsvyazbank
OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB 563 bn and total capital of RUB 71.5 bn under IFRS as of 1 January 2012. Holding company Promsvyaz Capital B. V. owns 73.9% of the Bank; Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG, has a 14.4% stake; and the European Bank for Reconstruction and Development owns the remaining 11.7%. PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service; “BB-” from Fitch Ratings. As at 1 January 2012, PSB had a network of about 287 points of sale in Russia, as well as an overseas branch in Cyprus, and representative offices in China, India, Ukraine and Kazakhstan. http://eng.psbank.ru/