Serhiy Tihipko predicts impending reshuffles in management of recapitalized banks.

“These banks´ management will be reshuffled today or tomorrow... There were sometimes come-and-go people there,” the vice prime minister for economic affairs told an EBA meeting last week. Tihipko said that the shareholders of the recapitalized banks would meet before the end of April to make the personnel decisions.

He stressed that the managements of the recapitalized banks should consist of specialists with working experience in Western financial institutions. “We are looking for people with good experience. There are often poorly trained people there. We need managers that have passed through the school of Western banks, people who know what risk management means, and people that would help us prepare the banks for sale,” Tihipko said.