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Central Bank Governor not planning to change cities for sake of his new position

25 october 2013, 16:32
0
Central Bank Governor Kairat Kelimbetov. © Yaroslav Radlovsky
Central Bank Governor Kairat Kelimbetov. © Yaroslav Radlovsky
The newly elected Governor of the Central Bank Mr. Kairat Kelimbetov will be managing the Almaty-based Central Bank from Astana, the country’s capital city, KazTAG reports, citing an unidentified source.

“Kairat Kelimbetov has no intention of moving to Almaty, he will be managing the Central Bank from Astana. His decision is most likely related to his willingness to be close to major decision-makers, including those in the financial sector. There is a high probability of the Central Bank HQ moving to Astana. As is known, the previous governor, Mr. Gregory Marcheno, was against moving the bank”, he said.

Nevertheless, his reluctance to move to Almaty didn’t stop Mr. Kelimbetov from having the Central Bank HQ heavily renovated. “There’s a huge renovation plan under way in the Bank’s QH (…) They say there’s a special entrance arranged for Mr. Kelimbetov, a special entry into the floor; a special team of guardsmen has been arranged to guard his floor and even a metal detector installed. There were no such safety measures during Mr. Marchenko’s tenure”, the source said.

According to the source, “all the vice governors have been removed from his floor and assigned other shared offices”.

The source didn’t rule out “that the Central Bank might face some changes in the executives team. It is a usual practice in Kazakhstan for each new top manager to try to replace the entire team, bringing his or her allies. Vice governors and other managers are likely to be replaced”, the source believes.

“[Gregory Marchenko] worked in this position for many years, steering Kazakhstan through tough times. He made a great contribution into the country’s financial system, into the National Bank, into management of the National Oil Fund. I am grateful for all of his efforts”, President Nazarbayev said when commenting on replacement of the Central Bank Governor October 1.

“[The new governor] Mr. Kelimbetov is 45 years old. He holds degrees from the Moscow State University and Georgetown University. He has been Minister of Economic Affairs, Vice PM, a negotiator on the Customs Union and the Eurasian Economic Union. I believe his expertise will have a positive impact on the National Bank”, President said, adding that the decision will benefit the Nation and assured the National Bank’s policy wouldn’t change.

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