Four billionaires have left Alfa Bank’s board of directors

Friedman, Aven, Galitsky and Matotsky have resigned from Alfa Bank’s board of directors
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Sanctions against Russia in general and the Urals in particular

Russian billionaires Mikhail Friedman, Peter Aven, as well as Alexander Galitsky and Sergei Matsotsky have resigned from the board of directors of Alfa-Bank. This decision was made at a shareholders’ meeting on March 21.

The board of directors of Alfa-Bank has been replaced by Peter Aven, its chairman, Mikhail Friedman, as well as Alexander Galitsky and Sergei Matsotsky, the credit organization said. The Board of Directors will soon be headed by Oleg Sysuev, who was previously the First Deputy Chairman of the Board.

In addition, on March 20, it became known that Friedman, Aven and Herman Hahn had resigned from the board of directors of the Genesis Philanthropy Group (GPG), which they founded. This is due to the imposition of sanctions by the European Union. GPG said the resignation would not affect its recent promise to provide $ 10 million in humanitarian aid to Ukraine.

Alfa-Bank came under EU sanctions together with Promsvyazbank and Otkrytie and Rossiya banks. Restrictions against the Russian banking system, which include, inter alia, the disconnection of some credit institutions from SWIFT, were introduced after the start of Russia’s special operation in Ukraine. Russian President Vladimir Putin announced it on the morning of February 24. It is aimed at the demilitarization and denazification of Ukraine.

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Russian billionaires Mikhail Friedman, Peter Aven, as well as Alexander Galitsky and Sergei Matsotsky have resigned from the board of directors of Alfa-Bank. This decision was made at a shareholders’ meeting on March 21. The board of directors of Alfa-Bank has been replaced by Peter Aven, its chairman, Mikhail Friedman, as well as Alexander Galitsky and Sergei Matsotsky, the credit organization said. The Board of Directors will soon be headed by Oleg Sysuev, who was previously the First Deputy Chairman of the Board. In addition, on March 20, it became known that Friedman, Aven and Herman Hahn had resigned from the board of directors of the Genesis Philanthropy Group (GPG), which they founded. This is due to the imposition of sanctions by the European Union. GPG said the resignation would not affect its recent promise to provide $ 10 million in humanitarian aid to Ukraine. Alfa-Bank came under EU sanctions together with Promsvyazbank and Otkrytie and Rossiya banks. Restrictions against the Russian banking system, which include, inter alia, the disconnection of some credit institutions from SWIFT, were introduced after the start of Russia’s special operation in Ukraine. Russian President Vladimir Putin announced it on the morning of February 24. It is aimed at the demilitarization and denazification of Ukraine.

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