OREANDA-NEWS. In the new capacity, Sergey will be in charge of financial planning and accounting, liquidity management, and financial statements. After the approval by the Bank of Russia, Sergey will become a member of the Bank’s Management Board. Victor Tyutin, Sergey’s predecessor in the office of CFO, will continue supervising strategy development and the integration processes within Otkritie Banking Group as Senior Vice-President and a Management Board member of Otkritie FC Bank. Sergey Kovtun joined the team of Otkritie FC Bank in 2011 as Deputy CFO to supervise IFRS reporting, relations with auditors, rating agencies and investors, as well as business planning and business analysis. From 1999 to 2011, he held various positions with Rosbank, Ernst and Young, Deloitte & Touche CIS and Sberbank (dealing, among other things, with IFRS statements). He began his career in 1997 at the Moscow office of PriceWaterhouseCoopers as a banking auditor. Sergey graduated from the Moscow State Institute of International Relations of the Ministry of Foreign Affairs of Russia in 1997. “Sergey Kovtun has a diverse and valuable experience that is very important for us, considering our focus on the relations with foreign partners and the desire to improve our financial accounting and planning system,” says President of Otkritie FC Bank Dmitry Romaev. “Over his 20 years at the Bank, Victor Tyutin has developed a unique understanding of all internal processes that are key to the development of our strategy and to the banking group integration, which is our top priority at the moment.”