MOSCOW - National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, announces an appointment of Alexander Sarchev the company's Deputy Chairman of the Executive Board. Mr. Sarchev is to supervise issues related to cash settlements with contractors, depository and clearing operations, methodology, development and taking of measures aimed at provision of NSD's business continuity.
About Alexander Sarchev
In 1980 Alexander Sarchev graduated from Moscow Financial Institute with a specialty in international economic relations. In eighties he did postgraduate studies and was involved in scientific research of international foreign exchange and credit markets in the Institute of World Economy and International Relations, Russian Academy of Sciences. In early nineties Mr. Sarchev, being a leading economist of the Department of Commercial Banks in the State Bank of the USSR, took part in development of Russian banking system.
In 1992 Mr. Sarchev joined MICEX. He was personally involved in formation and development of on-exchange markets of governmental and corporate shares and bonds and some foreign currency instruments. In 1996-2003 he as a Deputy General Director of MICEX was running a number of major exchange projects. For more than two years he was coordinating MICEX's participation in TACIS-INVAS program (Capital Markets Investment Advisory Services) aimed at development of securities markets' infrastructure.
In 2004 Mr. Sarchev was appointed Deputy Chief of Financial Markets and Property Department in the Central Office of the Government of the Russian Federation. The same year he joined Gazprombank; being an Adviser to the Management Board of the bank, he was involved in development of documents related to liberalization of Gazprom shares market, formation of gas exchange and its settlement center, and the bank's mortgage development strategy. Later he headed Sovfintrade Commercial Bank as a Chairman of the Board; at this post Mr. Sarchev was involved in formation of a center of refinancing of mortgage projects for Gazprombank Group.
In 2005-2007 Mr. Sarchev worked as an executive director of Experian-Interfax Credi History Bureau CJSC, one of the leading credit bureaus in Russia.
In 2007-2011 Mr. Sarchev was engaged in clearing and risk management issues as a Member and a Deputy Chairman of the Board of National Clearing Center Joint Stock Commercial Bank.
Alexander Sarchev holds PhD degree in Economics. He is an author of a book "Leading Commercial Banks in World Economy" (1992) and a number of publications related to currency and credit issues, problems of development of world banking industry and stock markets' infrastructure. He presented reports and carried out presentations dedicated to Russian financial markets and various exchange instruments at the conferences in Russia and abroad.
National Settlement Depository (NSD) is the largest settlement depository in Russia, a part of the MICEX Group, servicing on-exchange and OTC transactions with all types of debt and equity securities of Russian issuers and providing settlement services to participants in financial markets of the Russian Federation.
NSD provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, the majority of transactions with equities and also services UIT units and securities of foreign issuers.
In accordance with agreements concluded between NSD and the Bank of Russia, NSD acts as a settlement center for the organized securities market.
NSD is Russia's national numbering agency and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
For further information about NSD: www.nsd.ru , or NSD Public Affairs Division: +7 495 232 0910,