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Report: Russia's bad bank appoints CEO

Mikhail Khabarov was appointed CEO at Russia's bad bank National Bank Trust PJSC, Vedomosti reported May 20.

Khabarov, who earlier worked for Alfa Group's investment division A1, will oversee the management of the financial institution's noncore assets, the work of its units and the strategic and operational management of the bank.

Alexander Sokolov will continue to serve as president and chairman of the management board at National Bank Trust and will be responsible for the overall management of the bank, Vedomosti reported.