Kazkommertsbank AO : announces appointment of Mr. Holtzman as CEO

01.07.2016

July 1, 2016. Almaty, Kazakhstan. Kazkommertsbank, one of the largest banks in Kazakhstan and Central Asia, announces official appointment by the Board of Directors of Kazkommertsbank of Mr. Marc Holtzman as a chief executive officer following the completion of administrative formalities. Earlier, on April 28, 2016 the Board of Directors nominated Mr. Holtzman for this role. Mr. Holtzman has served as a Chairman of Kazkommertsbank from March 2015 through April 2016 and continues to serve as a member of the Board of Directors.

Mr. Holtzman being a non-resident of Kazakhstan is required to pass through the certain administrative permits and formalities required by Kazakh law, which have now been obtained.

'Kazkommertsbank is fortunate to have a chief executive dedicated to leading a dynamic customer centric transformation to making an already outstanding institution even better. Marc has demonstrated a deep and passionate commitment to Kazakhstan for more than 22 years. Our Board of Directors is delighted that Marc will not only bring his energy and drive to this new challenge but his years of experience as global Vice Chairman of ABN Amro and Barclays', - said the Chairman of the Board of Directors Kenges Rakishev.

'It is an honor and privilege to be part of this great team and I look forward to continuing to serve in my new role as chief executive. As Kazakhstan's leading financial institution, we must work hard every day to be worthy of the faith and trust which our customers place in us. Banking is constantly changing and evolving and we must work even harder to better serve our customers. Improving customer service will be our number one objective', said Mr. Holtzman.

Marc Holtzman brings more than three decades of professional experience to his new role as chief executive including having served as vice-chairman of Barclays Capital and ABN AMRO Bank. In 1994 Mr. Holtzman helped to establish one of the first corporate finance advisory firms in Kazakhstan, and during 2006-2008 Mr. Holtzman was a member of the Board of Directors of 'Kazyna' Sustainable Development Fund. Mr. Holtzman holds a Bachelor degree in Economics from Lehigh University.

In January 2015 Marc Holtzman has been elected to the Board of Directors of Kazkommertsbank as an non-executive independent director. He has been a Chairman of the Board of Directors of Kazkommertsbank from March 2015 to April 2016, and has then been elected as a member of the Board of Directors of Kazkommertsbank starting from April 28, 2016.

On May 18, 2016 the principal shareholder of the Bank Kenges Rakishev presented new strategy, which envisages transformation of Kazkommertsbank to become a financial institution with focus on FinTech products and services, and customer centricity based on timely, simple and convenient customer servicing. SME and retail segments, with strengthened regional penetration, will be a priority.

For enquiries:
Alma Buirakulova, Investor Relations
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Larissa Kokovinets, Public Relations
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