Nick Hutt has been appointed interim CEO of VTB Capital plc. He is a key member of the VTB Capital team and has been working in the London office since 2008 as CFO of the company's international business. Atanas Bostandjiev will be leaving his current position to pursue other business opportunities.

Since its foundation in 2008, VTB Capital has been operating successfully in the international financial markets and has established its main lines of business in Europe, Asia, the US, the Middle East and Africa.

Over the past three years, VTB Capital has completely transformed its international business, from a Russia distribution house to a pan-regional player winning local-to-local and cross-border business across emerging markets. This has allowed the company to establish a diversified and profitable platform. Having successfully completed the investment stage of our development, VTB Capital is now moving to boost monetization of the platform.

Alexei Yakovitsky, Global CEO at VTB Capital, said:

"The changes in VTB Capital's international business management team are part of our long-term plans. They are in line with the company's international business development strategy and will be implemented in accordance with the plan which has been adopted."

Atanas Bostandjiev noted:

"This has been a planned decision, which was agreed with VTB Group in advance. I would like to thank VTB Group for cooperation and opportunities. I will now be taking the invaluable experience which I have gained with the bank on to new roles and looking forward to pursuing new opportunities."