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New management board chairman named for recent VTB purchase

Alexei Yelagin was named president and chairman of the management board at PJSC Sarovbusinessbank, replacing Irina Alushkina, who will join the lender's board of directors.

Yelagin previously worked for VTB Bank PJSC, which acquired a majority stake in Sarovbusinessbank earlier in January and plans to complete integration with the lender in 2020, when Sarovbusinessbank will start operating under the VTB brand.