Gazprombank Establishes an Affiliated Company in London

Moscow, July 18. Gazprombank has taken the decision to establish an affiliated financial company in London. This decision will require appropriate approvals from the Central Bank of Russia, as well as the regulatory authorities in Great Britain. These are expected to be completed within 6-12 months.

Gazprombank’s presence in London will allow the bank to provide its clients with the full service and instruments of the international capital markets. It is intended that Ulrich Gerza will be appointed Head of Gazprombank’s affiliated company in London. He has joined Gazprombank in the position of Executive Vice-President, and will be in charge of the preparatory work.

Prior to joining Gazprombank Ulrich Gerza worked as Managing Director for the investment bank Dresdner Kleinwort in London. Together with him 4 other professionals have joined Gazprombank and will be working with Ulrich.

"We highly appreciate our cooperation with Dresdner Bank as a whole and Dresdner Kleinwort in particular, and we are confident that with Ulrich and his colleagues on board Gazprombank will be able to further strengthen and expand relationships between the two institutions", - comments Deputy Chairman of the Management Board of Gazprombank Alexei Obozintsev.

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