Sergey Shvetsov to Leave Bank of Russia on 21 March 2022

The regulator confirmed that there are changes at the top of the Central Bank of Russia.

Sergey Shvetsov is the Bank of Russia's first Deputy Governor. He plans to continue his work outside of Russia. He will be retiring from his position on 21 March 2022.

Elvira Nabiullina (Bank of Russia Governor) commented: "Sergey Shvetsov played a key role in establishing the megaregulator. It was a difficult task because we had to not only connect the Federal Financial Markets Service and the Bank of Russia but also create a single culture of governance, as well as uniform approaches to developing the financial market sectors."

Sergey Shvetsov was a master at motivating employees and encouraging change. He did everything he could to help the non-bank regulatory and supervision blocks to work together and interrelate efficiently.

Mr Shvetsov coordinated new areas in the Bank of Russia's work, specifically consumer protection, financial inclusion, and financial literacy. He was able to launch new projects and ensure their continued success. Sergey Shvetsov is a visionary able to see any issue from a new perspective, find unconventional solutions, and inspire employees'.

Source: Raw News