Russian VTB Bank

Sergey Zharov Appointed as CEO of Russian VTB Bank’s Forex Subsidiary

Russian VTB BankVTB Forex LLC, more popularly known as wholly owned Forex subsidiary of Russian banking and financial service provider VTB Bank recently revealed in a statement that it has appointed a new Chief Executive Officer. According to the update released by the firm, it has hired industry veteran Sergey Zharov to serve as its new Chief Executive Officer and his appointment at the firm is effective immediately. Zharov has more than two decades of experience serving in financial industry prior to joining the forex brokerage service provider. VTB bank is known as a specialist that focuses highly on foreign exchange market and is considered as sixth largest company in terms of revenue in Russia. VTB Forex LLC is more commonly known as VTB Capital Forex and serves as a dealer for over the counter forex forwards contracts. His responsibility as Chief Executive Officer is to preserve and strengthen VTB’s position as a leading forex service provider in Russia as per the statement released by the firm. 

The firm hopes to maintain its position and strengthen its hold over market by growing its business further via improving its products and services in hopes of increasing customer loyalty to the firm. Alexander Sokologorsky who was serving in the role of Chief Executive Officer of VTB Capital Forex prior to Sergey Zharov is now moving on the work in the brokerage division of parent firm VTB Bank. In his new role at the parent firm, Alexander is expected to be in charge of implementing new projects as part of retail investment customer service. During his multi-decade long career, Zharov has served in all levels of financial services industry having held roles ranging from trader to manager to senior leadership roles. Sergey has spent his long financial career entirely focusing on serving firms located within Russia. Some of the most notable firms he has served so far include – Inkombank, CB Russian Credit, St. Petersburg Currency Exchange (SPVB), Ilim Group, KIT Finance. 

Aside from his current role at the firm, the most notable role from his long career include – involvement in Moscow Exchange Committees and Member of board of directors of the RTS Exchange and the Exchange Council of St. Petersburg Stock Exchange. Commenting on Sergey’s appointment as CEO of the firm, Chairman of the Supervisory Board of VTB Capital Forex and Executive Director of VTB Capital Investments – Vladimir Potapov stated, “We are pleased to welcome Sergey Zharov to our team and hope to strengthen the leadership position of VTB Capital Forex under his leadership. Our task is to create the best provider of investment solutions on the market, offering a full range of products and services for customers. According to the new strategy, VTB is actively developing digital channels, and our best practices will certainly be used by the new team to significantly increase market share”. 

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