Fibank After having implemented the recommendations of the International Finance Corporation (IFC) of the World Bank, and met the requirements of the European Commission by introducing a new organizational structure in November 2015, Fibank (First Investment Bank) continues to improve its corporate governance and risk management by attracting new experienced experts into its leadership structure.
The Bank’s Management Board is now joined by Mr. Nedelcho Nedelchev, a financier of high standing not only in Bulgaria but also internationally. Mr. Nedelchev will assume the functions of Chief Executive Officer (CEO) of the bank. He will have a leading role in discussing the strategic opportunities for the bank along the lines of the project with Citigroup Global Markets Limited.
Mr. Nedelchev is well acquainted with the activity of First Investment Bank. During the 2007-2012 period, he was a member of the Supervisory Board of the Bank. In 2013, Mr. Nedelchev managed the project for acquisition of Unionbank EAD, and was subsequently a member of the Supervisory Board of the latter until its merger into Fibank.
The former CEO, Mr. Vassil Christov, will now focus his efforts on implementing the bank's main strategy, aimed at growth in the field of retail and SME banking. He will assume the position of Chief Retail Banking Officer (CRBO).
Mr. Svetozar Popov, who has extensive experience in managing a bank abroad and has up to now held the position of Chief Compliance Officer (CCO) at Fibank, will take over the role of Mr. Dimitar Kostov as Chief Risk Officer (CRO) and member of the Management Board.
Fibank thanks Mr. Dimitar Kostov for his excellent work and the high results achieved over the years, and plans to continue its cooperation with Mr. Kostov in the future.
The management structure of the bank is consistent with its strategy for consolidating its leadership positions on the local and international markets. It may be reminded that in June 2015 Fibank appointed an independent member to its Supervisory Board: Mr. Jyrki Koskelo, who has previously held a number of leadership positions at the International Finance Corporation (IFC) of the World Bank.