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The appointment was carried out on September 23, 2014

Sergey Naumov was appointed by Supervisory Board as the new CEO of Piraeus Bank ICB on September 23, 2014, subject to the approval of the National Bank of Ukraine. Vyacheslav Koval, who has been the Acting CEO, will hold the position of the Deputy CEO of the bank.

“Sergey Naumov is a banker with a long track-record in banking and has worked for the largest international financial institutions present in Ukraine. Sergey comes at a period of time the country is facing many challenges and the “reshaping” of the banking sector is at the epicenter of the reengineering of the Ukrainian economy. His main task is to rationalize the bank’s business, develop and launch strategy of the bank evolution in Ukraine as part of a large financial institution such as Piraeus Bank Group. I have no doubt that Piraeus Bank has made the right choice by appointing Sergey as our new CEO in Ukraine” commented on the new appointment Yannis Kyriakopoulos, Head of Supervisory Board of Piraeus Bank ICB and Group Head of International Banking of Piraeus Bank.

“Undoubtedly, for the whole banking system of Ukraine now is a very difficult times, especially in terms of business development. On the other hand, it is good time to review our capabilities, strengths and weaknesses. First of all, we need to concentrate on the quality of loan portfolio, banking products, processes, relationships with customers. This should form the basis of strategy development in the medium term perspective, that will be developed in the near future”, – commented on his plans the newly appointed CEO of Piraeus Bank.

Mr. Naumov has significant managerial experience in the banking sphere. Starting his career in First Ukrainian International Bank, then in PriceWaterhouseCoopers, he moved to Raiffeisen bank Ukraine in 2000, where he successfully progressed from Credit Analyst to Head of Corporate Clients Division, having held also posts of Head of Credit Analysis Department and Deputy Head of Risk Management Division. His next steps in his career were with Ukrsibbank (BNP Paribas Group) in 2006, where he joined as Deputy Chairman of the Board, bearing the responsibility of Corporate Banking and was promoted to Chairman of the Managing Board of the bank. In 2010 Sergey Naumov moved to the same position at Pravex Bank (Intesa Sanpaolo) and joined Sberbank of Russia in 2013 as Deputy Chairman of the Board.

During his career Sergey Naumov has recommended himself as professional banker and effective top-manager.

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