The Ukrainian government has withdrawn independent members-foreigners from the supervisory board of PrivatBank (Kyiv), who joined it at once after the nationalization of the financial institution, including the author of the Turkish banking system reform program, Engin Akcakoca, who headed the bank’s supervisory board.
According to the bank’s report in the information system of the National Commission for Securities and the Stock Market, the Cabinet of Ministers passed the relevant order on July 5 due to the fact that the specified members of the supervisory board on June 13 refused to be re-appointed to their posts, when the Cabinet of Ministers approved the new resolution on May 22.
PrivatBank said that, in addition to Akcakoca, managing partner of Apollo Management investment company Andrea Moneta and the financier, the author of the financial sector reform in Ireland Steven Seelig also left the board.
At the same time, under resolution dated July 5, the government appointed Yulia Metzger to the supervisory board of the largest Ukrainian bank as a state representative from the president of Ukraine. Prior to this appointment, she was deputy head of the banking legal support department of the legal department of Ukreximbank, previously headed the corporate law department of LEGALTO law firm LLC.
As reported, on May 22, 2019, the Cabinet of Ministers approved the international adviser of the U.S. Treasury technical assistance department, former IMF consultant expert Sharon Easky; former Director General for Operations Citi (Egypt) and member of the supervisory board of Citi Bank (Ukraine) Nadir Shaikh and Eran Klein, who previously held leadership positions at Commerzbank (United Kingdom), Citibank (United Kingdom), WestLB (Japan) and Deutsche Bank (Japan) as new independent members of the supervisory board of PrivatBank.
