OREANDA-NEWS. On March 03, 2008 JSC Alliance Bank (LSE: ALLB), announced the appointment of Erik Sultankulov as Chairman of the Management Board. The decision was made on a meeting of the Board of Directors on February 29, 2007, reported the press-centre of Alliance Bank.

Mr. Sultankulov is currently a member of the Board of Directors of JSC “Seimar Alliance Financial Corporation” (“SAFC”) and Chairman of the Board of Directors of CJSC "StarBank" (SAFC's Russian subsidiary). Previously he held a position of General Director in CJSC "State Accumulating Pension Fund, latterly Finance Director, Member of Management Board of JSC "Bank TuranAlem".

The resigned Chairman - Dauren Kereibayev, takes up the position of Deputy Chairman of the Management Board of SAFC, the major shareholder of Alliance Bank, with immediate effect.

Commenting on the announcement, Margulan Seisembayev, Chairman of the Board of Directors of Alliance Bank, said, "I am delighted to welcome Erik Sultankulov to the position of the Chairman of Alliance Bank Management Board. He brings strong experience of the banking sector, which will be a great asset as we drive forward our strategy. I would also like to take this opportunity to thank Dauren Kereibayev for the exceptional role that he has played over the last 10 years in taking us to our present position as one of Kazakhstan’s leading banks. I am pleased that he will continue to play an important part in the Seimar Alliance Financial Corporation going forward.”