New BSTDB Vice President Operations assumes duties

Press Release | 03-Oct-2007

Following a proposal of the Government of Ukraine, the BSTDB Board of Directors appointed Mr. Vitalii Mygashko as Vice President Operations of the Black Sea Trade and Development Bank. Mr. Mygashko assumed his duties on October 1, 2007, replacing Ms. Valentina Siclovan whose term in office expired.

Mr. Mygasho served as an economist dealing with external economic relations and foreign trade in different state bodies of Ukraine, for the period from 1982 to 1992.
In 1992, he started his banking career at the National Bank of Ukraine, where he held progressively responsible positions during the period 1992-1997, being in charge of international banking relations and capital markets. From 1997-2001, Mr. Mygashko served as First Deputy Chairman of the Board/Treasurer of the ING Bank Ukraine and he was the lead manager of the two Ukrainian Eurobonds issued at the time. In 2001, he was appointed Chairman of the Board of NRB Bank- Ukraine for a period of three years. From 2004 to 2005, he was the Chairman of the Board of JSC Energobank, responsible for the restructuring of the Bank. In April 2005, he was appointed First Deputy Chairman of the Board of CJSC Vneshtorgabank in charge of the financial planning, funding of active operations and cooperation with international financial institutions.

Mr. Mygashko has an Economics degree from the Kiev Economic University. He speaks Russian, English and has a good knowledge of French and Arabic.

Mr. Mygashko is married with one daughter.

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The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. With an authorized capital of SDR 1 billion (approx. USD 1,5 billion), the Bank supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects in the public and private sectors in its member countries. BSTDB is rated Long Term Baa1 and Short Term P2 by Moody’s.