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Management

Board of Directors

The Management Board

According to the Charter the Bank has a Board of Directors, Management Board and Auditor. Shareholders elect the members of the Board of Directors. In turn, the Board of Directors elects the members of the Management Board. The Board of Directors, that represents the interests of shareholders, is responsible for the general management of the Bank and approves its strategic and operational plans. The Board of Directors does not perform executive functions. Overall responsibility for the administration of the Bank's current activities is vested in the Management Board.

The Management Board

Nina A. Zhussupova has been a member of the Board of Directors since September 2002. Ms. Zhussupova is the Chairman of the Management Board. Since joining the Bank in August 1995, she has served as First Deputy Chairman of the Management Board, Manager of the Accounts Office and Chief Accountant of the Bank. She holds a degree in economics from the Almaty Institute for National Economy (‘‘AINE’’).

Ermek N. Shamuratov has served as a Managing Director since 1998. He is the former Deputy Chairman of Halyk Savings Bank and also held a number of positions within that organisation. He holds a degree in mathematics from the KSU.

Beibit T. Apsenbetov has been working as a Managing Director since 2002. Previously he was a partner in charge of management consulting at Deloitte & Touche, also serving as the general director of the firm’s branch in Kazakhstan. The following projects were carried out under his supervision: privatization of Karaganda Metallurgic Plant, valuation of Pavlodar Rrefinery, integration projects at KKB and Halyk Savings Bank, assessment of Turanbank, development of retail strategy for Kazkommertsbank. His career in financial sector started with a position of Almaty Stock Exchange vice-president. Mr. Apsenbetov is a certified auditor of Kazakhstan. He holds an honors degree in political economy from the Leningrad State University. He completed the courses on mergers and acquisitions at Wharton Business School, the Pennsylvania University. He supervises the branch network of the Bank.

Magzhan M. Auezov – Managing Director, member of the Managing Board of JSC Kazkommertsbank since 2002.
Since 2009 – Chairman of the Board of Directors of subsidiary bank Moskommertsbank. 1998 to 2002 – worked with ABN AMRO Bank in Kazakhstan, where held various positions, most recently - Country Head of Loan Products, Head of Trade and Commodity Finance, Relationship Banker for Commodities and Industrials.

Degrees with distinction from Columbia University (MS, International Banking and Finance), Georgetown University (BSFS, International Economics) and Al Farabi Kazakh State National University (Foreign Service). Mr. Auezov is a graduate of ABN AMRO Banking Academy (Amsterdam) and holds a Certificate of Professional Development from Wharton School of Business, University of Pennsylvania (Philadelphia).

Chairman of charity foundation “Kus Zholy”, Council member of Association of graduates of Republic of Kazakhstan Presidential Scholarship “Bolashak”.

Andrey I. Timchenko has served as a Managing Director since 2003. Mr. Timchenko is a former Tax Advisor of Ernst & Young Almaty. He joined the Bank in 1998 and has since held a number of positions in the Bank. He supervises the retail business and marketing activities of the Bank. He has a graduate degree in law from the Kazakh State Law University.

Dennis Y. Fedossenko has served as a Managing Director since 2003. Mr. Fedossenko joined the Bank in 1996 and held a number of positions in Treasury Department of the Bank. He graduated from the Kazakh State Academy of Management.

Alexander V. Yakushev has occupied the position of Managing Director since 1999. Mr. Yakushev also heads the Regional Directorate and the Akmola branch of Kazkommertsbank. Previously, he headed the CIS & Baltics Division. Mr. Yakushev has been in the banking sector since 1990 and joined Kazkommertsbank in 1996 having left the position of Chairman of the Board of KRAMDS bank. He graduated from Gorky Pedagogical Institute of Foreign languages; fluently speaks French. In 1994, Mr. Yakushev completed the finance program of the Kazakh State Academy. In 1993, he attended an “Assets and Liabilities Management” course at Southern Methodist University, Dallas, USA. Mr. Yakushev also passed on-job trainings at Societe Generale (1994) and BCEN EUROBANK (1995), Paris, France. Mr. Yakushev was granted two state awards - a "10th anniversary of independence of the Republic of Kazakhstan" medal and a memorable medal in connection with the 50th anniversary of development of Virgin Lands.

Erik Z. Balapanov has served as a Managing Director of the Bank since 2003. He supervises the corporate business of the Bank. Mr. Balapanov is a Chairman of the Board of Grantum pension fund and Grantum Asset Management. Mr. Balapanov formerly held a top position in Development Bank of Kazakhstan. He has graduated from Kazakh Institute of Market affiliated with Kazakh State Academy of Management, and has a degree in finance from Eurasian Institute of Market. He has a PhD in economics.

Baurzhan K. Zhumagulov supervises the Bank’s Credit Department No. 3 and has served as a Managing Director since January 2005. Mr Zhumagulov is a former Deputy General Director of TOO “Caspian Industrial Financial Group”. He holds a degree in economics from the Kazakh Economic University. He received his MBA degree from Saitam University (Japan).

Alexander V. Barsukov supervises the Bank’s Legal Department and has served as a Managing Director since January 2005. Mr Barsukov is a former managing partner of the law firm McGuire Woods (Kazakhstan). He holds a degree in law from the Kazakh State National University.

Askarbek Nabiyev was appointed as managing director of JSC “Kazkommertsbank” in February 2007. In his position of Managing Director, he supervises financial analysis, budgeting and control, and management reporting. Mr. Nabiyev has a graduate degree in economics from Kazakh State Academy of Management. He joined the bank in 1997.

Adil Batyrbekov was appointed as managing director of JSC “Kazkommertsbank” in February 2007. He will continue to supervise risk management and collateral service of the Bank. Mr. Batyrbekov holds an MBA degree from Nottingham University (UK) and a degree in International Economics from Kazakh State Academy of Management. Prior to joining KKB he spent over 6 years as the head of credit division at ABN AMRO Kazakhstan.

Kulyash Erezhepova was appointed as a Managing Director in January 2008, supervising the administrative issues of the Bank, such as construction and maintenance of the new branches, logistics, procurement. Ms. Kumalakova holds a degree in Accounting from Almaty National Institute of Economics. She joined Kazkommertsbank in 1994 and has since held a number of positions in the Bank.

Amar T. Hanibal was appointed as a Managing Director in December 2009. Prior to the appointment, he has served as a Director of Risk Management Department . He has extensive banking experience in risk management and corporate lending. Since 1999, Mr. Hanibal held various positions in ABN AMRO in Amsterdam, Chicago and London.
Mr. Hanibal graduated from European University in Brussels in 1998 with a degree in economics. He received his MBA from Harvard Business School (USA) in 2007.

Sergey D. Mokroussov was appointed as a Managing Director in December 2009. He joined Kazkommertsbank in 2003, since then he has held various senior positions in corporate banking including product development and project finance. Since July 2008 and up until recently he was an Executive Director supervising business relationship with financial institutions all over the world.
Mr. Mokroussov graduated from Pavlodar State University with a degree in economics and management. He received his MBA from Dartmouth College (USA).

		Nina A. Zhussupova has been a member of the Board of Directors since September 2002. Ms. Zhussupova is the Chairman of the Management Board. Since joining the Bank in August 1995, she has served as First Deputy Chairman of the Management Board, Manager of the Accounts Office and Chief Accountant of the Bank. She holds a degree in economics from the Almaty Institute for National Economy (‘‘AINE’’).

		Ermek N. Shamuratov has served as a Managing Director since 1998. He is the former Deputy Chairman of Halyk Savings Bank and also held a number of positions within that organisation. He holds a degree in mathematics from the KSU.

		Beibit T. Apsenbetov has been working as a Managing Director since 2002. Previously he was a partner in charge of management consulting at Deloitte & Touche, also serving as the general director of the firm’s branch in Kazakhstan. The following projects were carried out under his supervision: privatization of Karaganda Metallurgic Plant, valuation of Pavlodar Rrefinery, integration projects at KKB and Halyk Savings Bank, assessment of Turanbank, development of retail strategy for Kazkommertsbank. His career in financial sector started with a position of Almaty Stock Exchange vice-president. Mr. Apsenbetov is a certified auditor of Kazakhstan. He holds an honors degree in political economy from the Leningrad State University. He completed the courses on mergers and acquisitions at Wharton Business School, the Pennsylvania University. He supervises the branch network of the Bank.
		Magzhan M. Auezov – Managing Director, member of the Managing Board of JSC Kazkommertsbank since 2002. Since 2009 – Chairman of the Board of Directors of subsidiary bank Moskommertsbank. 1998 to 2002 – worked with ABN AMRO Bank in Kazakhstan, where held various positions, most recently - Country Head of Loan Products, Head of Trade and Commodity Finance, Relationship Banker for Commodities and Industrials. Degrees with distinction from Columbia University (MS, International Banking and Finance), Georgetown University (BSFS, International Economics) and Al Farabi Kazakh State National University (Foreign Service). Mr. Auezov is a graduate of ABN AMRO Banking Academy (Amsterdam) and holds a Certificate of Professional Development from Wharton School of Business, University of Pennsylvania (Philadelphia). Chairman of charity foundation “Kus Zholy”, Council member of Association of graduates of Republic of Kazakhstan Presidential Scholarship “Bolashak”.

		Andrey I. Timchenko has served as a Managing Director since 2003. Mr. Timchenko is a former Tax Advisor of Ernst & Young Almaty. He joined the Bank in 1998 and has since held a number of positions in the Bank. He supervises the retail business and marketing activities of the Bank. He has a graduate degree in law from the Kazakh State Law University.

		Dennis Y. Fedossenko has served as a Managing Director since 2003. Mr. Fedossenko joined the Bank in 1996 and held a number of positions in Treasury Department of the Bank. He graduated from the Kazakh State Academy of Management.

		Alexander V. Yakushev has occupied the position of Managing Director since 1999. Mr. Yakushev also heads the Regional Directorate and the Akmola branch of Kazkommertsbank. Previously, he headed the CIS & Baltics Division. Mr. Yakushev has been in the banking sector since 1990 and joined Kazkommertsbank in 1996 having left the position of Chairman of the Board of KRAMDS bank. He graduated from Gorky Pedagogical Institute of Foreign languages; fluently speaks French. In 1994, Mr. Yakushev completed the finance program of the Kazakh State Academy. In 1993, he attended an “Assets and Liabilities Management” course at Southern Methodist University, Dallas, USA. Mr. Yakushev also passed on-job trainings at Societe Generale (1994) and BCEN EUROBANK (1995), Paris, France. Mr. Yakushev *was granted two state awards* - a "10th anniversary of independence of the Republic of Kazakhstan" medal and a memorable medal in connection with the 50th anniversary of development of Virgin Lands.

		Erik Z. Balapanov has served as a Managing Director of the Bank since 2003. He supervises the corporate business of the Bank. Mr. Balapanov is a Chairman of the Board of Grantum pension fund and Grantum Asset Management. Mr. Balapanov formerly held a top position in Development Bank of Kazakhstan. He has graduated from Kazakh Institute of Market affiliated with Kazakh State Academy of Management, and has a degree in finance from Eurasian Institute of Market. He has a PhD in economics.

		Baurzhan K. Zhumagulov supervises the Bank’s Credit Department No. 3 and has served as a Managing Director since January 2005. Mr Zhumagulov is a former Deputy General Director of TOO “Caspian Industrial Financial Group”. He holds a degree in economics from the Kazakh Economic University. He received his MBA degree from Saitam University (Japan).

		Alexander V. Barsukov supervises the Bank’s Legal Department and has served as a Managing Director since January 2005. Mr Barsukov is a former managing partner of the law firm McGuire Woods (Kazakhstan). He holds a degree in law from the Kazakh State National University.

		Askarbek Nabiyev was appointed as managing director of JSC “Kazkommertsbank” in February 2007. In his position of Managing Director, he supervises financial analysis, budgeting and control, and management reporting. Mr. Nabiyev has a graduate degree in economics from Kazakh State Academy of Management. He joined the bank in 1997.

		Adil Batyrbekov was appointed as managing director of JSC “Kazkommertsbank” in February 2007. He will continue to supervise risk management and collateral service of the Bank. Mr. Batyrbekov holds an MBA degree from Nottingham University (UK) and a degree in International Economics from Kazakh State Academy of Management. Prior to joining KKB he spent over 6 years as the head of credit division at ABN AMRO Kazakhstan.

		Kulyash Erezhepova was appointed as a Managing Director in January 2008, supervising the administrative issues of the Bank, such as construction and maintenance of the new branches, logistics, procurement. Ms. Kumalakova holds a degree in Accounting from Almaty National Institute of Economics. She joined Kazkommertsbank in 1994 and has since held a number of positions in the Bank.
		Amar T. Hanibal was appointed as a Managing Director in December 2009. Prior to the appointment, he has served as a Director of Risk Management Department . He has extensive banking experience in risk management and corporate lending. Since 1999, Mr. Hanibal held various positions in ABN AMRO in Amsterdam, Chicago and London. Mr. Hanibal graduated from European University in Brussels in 1998 with a degree in economics. He received his MBA from Harvard Business School (USA) in 2007.
		Sergey D. Mokroussov was appointed as a Managing Director in December 2009. He joined Kazkommertsbank in 2003, since then he has held various senior positions in corporate banking including product development and project finance. Since July 2008 and up until recently he was an Executive Director supervising business relationship with financial institutions all over the world. Mr. Mokroussov graduated from Pavlodar State University with a degree in economics and management. He received his MBA from Dartmouth College (USA).