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New board chairman named at Russia-based YAR Bank

Katsumi Hatao was appointed chairman of the board at Commercial Bank YAR Bank (LLC), replacing Alexander Kravtsov, the lender said Oct. 4.

In addition, Makoto Miyazaki, serving as a board member, was also dismissed, while Takeshi Kuribayashi joined the board.

The board also includes Yusuke Fujii, with all three members representing YAR Bank's only shareholder, SBI Holdings.

SBI Holdings provides asset management, brokerage, investment banking and other services, while subsidiary SBI Sumishin Net Bank Ltd. is a leader in the Japanese online banking market.