Alexey Korovin has been appointed Head of Retail Business at Alfa-Bank effective 23 January 2012. Mr. Korovin will also join Alfa-Bank’s Executive Board.

Alexey Korovin will be responsible for the development and implementation of the Bank’s retail business strategy, focusing on substantially growing the credit portfolio and acquiring new customers through further development of the branch network; improvements to operating efficiency; introduction of new, innovative, products; and continuous improvement of the Bank’s customer service.

Alexey Marey, Head of Retail Business since April 2007, becomes Deputy CEO and, as previously announced, from 1 May 2012 will become CEO of Alfa-Bank.

Alfa-Bank CEO Rushan Khvesyuk states, «The appointment of Alexey Korovin is in line with the Bank’s constant effort to engage the most talented, experienced and ambitious managers. Alexey Korovin demonstrates all these qualities in full. I am confident that Alexey’s professional expertise will play an important role in the successful development of our retail business, generally recognized as one of the best in the country».

«I am glad that Alexey is joining our team and I am sure that his expertise, offering fresh insight into our business, will be beneficial for the Bank and help achieve our ambitious targets,» added Alexey Marey, Member of the Executive Board, Head of Retail Business at Alfa-Bank.

Born in 1972 in Moscow, Alexey Korovin graduated cum laude from the Moscow Aviation Institute specializing in Economy and Management in Machine Building. In 1994, he served internship at one of the largest Belgium banks Generale de Banque under the EU Cooperation Program TACIS: Productivity Initiative Program. Alexey has been involved in the banking sector for over 18 years, holding a variety of managerial positions at Rossiiski Kredit and Impexbank responsible for corporate business, SME, outside funding, international trade finance and payments. As First Deputy Chairman of the Executive Board at Impexbank he took part in the arrangement of acquisition and further integration of the bank into Raiffeisen Group. In August 2007, Alexey Korovin moved to Investsberbank then affiliated by OTP Group, taking the position of President and Chairman of the Board of Directors at OTP Bank. Alexey Korovin is a member of RBA Council and FAS Council of Experts. In 2011, Alexey completed Advanced Management Program at Harvard Business School.

Alfa-Bank