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New president appointed at Fundservicebank

Oleg Baranov was appointed president of Russia-based JSC Fundservicebank, the lender said Dec. 24.

Baranov earlier served as deputy general director at the Russian Deposit Insurance Agency and joined the board of directors of Fundservicebank in November 2018.

The Russian central bank launched a financial recovery program for Fundservicebank in 2015, initially selecting JSCB Novikombank as an investor for a bailout. In May 2018, Russia's state space corporation Roscosmos was chosen by the regulator to act as a new investor in the bailout plan for the lender.