KazKommertsBank welcomes new members to its Board of Directors

©Petr Karandashov

The Board of Directors of JSC KazKommertsBank (KKB) has been changed, Tengrinews reports. The information was presented by the press service of the bank on January 19 at the end of the Extraordinary General Meeting of the shareholders.

Kazakh businessman Kenes Rakishev has been elected a new member of the Board of Directors to represent the interests of the shareholders as a Non-Executive Director. In turn, Marc Holtzman has been elected Independent Non-Executive Director.

“Making new appointments to KazKommertsBank’s Board of Directors is a logical step towards integrating KKB and BTA Bank. We welcome Mr. Holtzman and Mr. Rakishev, highly regarded professionals, to the Board of Directors. We are confident that their expertise and knowledge will add value and help us to reach our overall strategic aim of confirming our position as the largest, most efficient and innovative financial institution in Kazakhstan,” Nurzhan Subkhanberdin, Chairman of the Board of Directors of KKB, said.

It is expected that KKB and BTA merger will produce the largest bank in the region.

Kenes Rakishev is a prominent Kazakhstani businessman. He has been Chairman of the Board of Directors of BTA Bank since 14 February 2014 but began his career long before that.

Graduating from the Kazakh State Academy of Management in 2000 and from Ryskulov’s Kazakh Economic University in 2002, he received a degree in Law and Economics. He also holds certificates in Advanced Management from Oxford Saïd Business School and in Developing Strategy for Value Creation from London Business School.

Rakishev has also been Chairman of the Board of Directors at SAT & Company JSC since 2006 and at a US technology company Net Element International since 2012. In addition he holds directorship positions at various major Russian and Kazakh industrial companies. It is expected that he will become a new major shareholder of KKB.

Marc Holtzman holds a Bachelor of Arts degree in Economics from Lehigh University and has over 30 years of professional experience in economics and public administration. Between 1989 and 1998 he lived and worked in Eastern Europe and Russia. In recent years he lived in Hong-Kong.

Holtzman held positions of Vice Chairman at Barclays Capital and ABN AMRO Bank. Holtzman was also a co-founder and President of MeesPierson EurAmerica, Senior Adviser to Salomon Brothers, and Chairman of Meridian Capital Hong Kong. Apart from this, he was the first Secretary of Technology in the Cabinet of the Governor of Colorado and President of the University of Denver.

The Board of Directors of JSC KazKommertsBank (KKB) has been changed, Tengrinews reports. The information was presented by the press service of the bank on January 19 at the end of the Extraordinary General Meeting of the shareholders.

Kazakh businessman Kenes Rakishev has been elected a new member of the Board of Directors to represent the interests of the shareholders as a Non-Executive Director. In turn, Marc Holtzman has been elected Independent Non-Executive Director.

“Making new appointments to KazKommertsBank’s Board of Directors is a logical step towards integrating KKB and BTA Bank. We welcome Mr. Holtzman and Mr. Rakishev, highly regarded professionals, to the Board of Directors. We are confident that their expertise and knowledge will add value and help us to reach our overall strategic aim of confirming our position as the largest, most efficient and innovative financial institution in Kazakhstan,” Nurzhan Subkhanberdin, Chairman of the Board of Directors of KKB, said.

It is expected that KKB and BTA merger will produce the largest bank in the region.

Kenes Rakishev is a prominent Kazakhstani businessman. He has been Chairman of the Board of Directors of BTA Bank since 14 February 2014 but began his career long before that.

Graduating from the Kazakh State Academy of Management in 2000 and from Ryskulov’s Kazakh Economic University in 2002, he received a degree in Law and Economics. He also holds certificates in Advanced Management from Oxford Saïd Business School and in Developing Strategy for Value Creation from London Business School.

Rakishev has also been Chairman of the Board of Directors at SAT & Company JSC since 2006 and at a US technology company Net Element International since 2012. In addition he holds directorship positions at various major Russian and Kazakh industrial companies. It is expected that he will become a new major shareholder of KKB.

Marc Holtzman holds a Bachelor of Arts degree in Economics from Lehigh University and has over 30 years of professional experience in economics and public administration. Between 1989 and 1998 he lived and worked in Eastern Europe and Russia. In recent years he lived in Hong-Kong.

Holtzman held positions of Vice Chairman at Barclays Capital and ABN AMRO Bank. Holtzman was also a co-founder and President of MeesPierson EurAmerica, Senior Adviser to Salomon Brothers, and Chairman of Meridian Capital Hong Kong. Apart from this, he was the first Secretary of Technology in the Cabinet of the Governor of Colorado and President of the University of Denver.

By Dinara Urazova

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