Outgoing aid to Russia’s president Sergei Yastrzhembsky will head the project for creating an investment bank of Russia and Italy.
Photo: Dmitry Azarov
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The Bank Bureaucrat
Outgoing aid to Russia’s president Sergei Yastrzhembsky will head the project for creating an investment bank of Russia and Italy, while Intesa Bank Group and Development Bank (VEB) will implement that project. The idea was backed up at the highest level, when Vladimir Putin met with Italian entrepreneurs April 2.
“Yastrzhembsky leaves the government service at will,” said a top-ranked bureaucrats. “All necessary documents have been signed,” a top-manager of a big bank specified. “He will head the project to create an interstate investment bank of Russia and Italy,” one of the bureaucrats explained. Yastrzhembsky couldn’t be reached to comment yesterday and people in his office said he had gone on vocation in April and the date of his return was unknown.
The plans to set up Russia’s-Italian bank were officially announced in early April. The initiator was Intesa-Moscow CEO Antonio Fallico and Giovanni Badzoni, who chairs the supervisory board at Intesa-San-Paolo Bank Group, backed up the idea. What’s more, the project got the go-ahead at the April 2 meeting of Vladimir Putin with representatives of big business of Italy.
Intesa-San-Paolo has the leading standing on the capital market of Italy and it is one of the biggest financial structures in Europe. In addition to Moscow office of Intesa, Intesa-Moscow, the group has two more subsidiaries in Russia – ZAO Bank Intesa and KMB Bank.
www.kommersant.com
All the Article in Russian as of May 08, 2008
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