Nurlan Kussainov resigns as Development Bank of Kazakhstan CEO

Nurlan Kussainov has resigned as CEO of the Development Bank of Kazakhstan (DBK), Tengrinews reports citing the Kazakhstan Stock Exchange (KASE). Based on the Development Bank of Kazakhstan board resolution dated November 14, 2013 and as agreed by the Parties, Nurlan Kussainov's office shall be terminated early, starting from November 25. Pursuing to this termination, "his authorities of the board member of the Development Bank of Kazakhstan shall be terminated early" on his own initiative and starting from November 14, 2013, the message says. Nurlan Kussainov was appointed Head of the Development Bank of Kazakhstan (DBK) by Samruk-Kazyna Sovereign Wealth Fund in April 2011. Earlier Kussainov was a board chairman of the Center for Marketing Analysis and Researches of the Ministry of Economy and Budget Planning of Kazakhstan, and he was a part of the group spearheading the Kazakhstan's initiative to access the World Trade Organization (WTO). He used to be the head the Strategic Planning Department of the DBK in the first year of its development.