Governance Structure

Our Board of Directors and Board Committees are key elements in the management and control of Tinkoff’s rapidly growing business. We are committed to high standards of corporate governance and comply with the governance and disclosure guidelines of the London Stock Exchange.

TCS Group Holding (The Group) Board of Directors

Domicile

Cyprus

Regulator

FCA, CySec

Key functions

Creates and supervises of the operations of the internal control system of the Group. Approves the Group’s credit policy. Provides leadership and oversight to the Group within a framework of prudent and effective controls, which enables risk to be assessed and managed. Sets the Group’s strategic objectives, ensures that the necessary financial and human resources are in place for the Group to meet its objectives Reviews management’s performance. Sets the Group’s values and standards and ensures that its obligations towards the shareholders and other stakeholders are understood and met. Establishes Committees (currently Audit and the Remuneration Committees). Recommends dividends.

Relationship to other governing bodies

Appoints the Tinkoff Bank Board of Directors

Meetings in 2020

Members of TCS Group Holding (The Group) Board of Directors

Constantinos Economides

Chairman, Executive Director

Constantinos Economides has been a director of TCS Group Holding PLC since November 2008 and Chairman since June 2015. Mr. Economides is also the Managing Director of Royal Pine & Associates Ltd since January 2016. He was previously the Managing Director of Orangefield Cyprus from October 2006 to December 2015. Prior to 2006, he worked with Deloitte Ltd in Cyprus from 2003 to 2006 and Ernst & Young in the United Kingdom from 1999 to 2002. Mr. Economides is a Fellow Member of the Institute of Chartered Accountants in England & Wales (ICAEW) and holds an MSc in Management Sciences from Warwick Business School, United Kingdom. In addition, he is a Licensed Insolvency Practitioner of the Institute of Certified Public Accountants of Cyprus (ICPAC) since October 2015.

Oliver Hughes

Executive Director

Oliver is responsible for strategic and operational management of the Group’s business.
Having joined Tinkoff Group in 2007, Oliver steered the Company through the key stages of its development. In his role as co-CEO, Oliver is responsible for overseeing financial performance and organisational development, expanding the talent pool, and implementing advanced operational, product and technology standards both in Russia and abroad.
Before joining Tinkoff, Oliver spent a decade at Visa International, serving as Head of Visa in Russia from 2005 to 2007.
Oliver holds a Master of Arts degree in International Politics from Leeds University, a Master’s degree in Information Management and Technology from City University in London, and a Bachelor’s (First Class) degree in Russian and French from the University of Sussex.

Tinkoff Bank (The Bank) Board of Directors

Domicile

Russia

Regulator

Central Bank of Russia

Key functions

Determines strategic priorities of the Bank. Approves capital market operations of the Bank, major related party transactions, risk and capital management strategy, and procedures for preventing conflicts of interest, HR policies, employees compensation policies, management compensation and bonuses policies. Recommends compensation of internal audit board and external auditors, dividends from the Bank subsidiary to the Group.

Relationship to other governing bodies

Appoints and oversees Tinkoff Management Board

Meetings in 2020

Members of Tinkoff Bank (The Bank) Board of Directors

George Chesakov

Chairman

George Chesakov is spearheading Tinkoff’s efforts to expand into international markets. Prior to this, he was CEO of Tinkoff’s mobile virtual network operator (MVNO) Tinkoff Mobile from Jan 2017 until Sep 2021. He also served as Chief Operating Officer and Chairman of the Management Board from 2006 until 2011. Prior to his returning to Tinkoff in February 2016, George was President of OTP Bank and co-founder of Revo Technology. Prior to Tinkoff, George worked at McKinsey & Company, Russian Standard Bank and launched a consumer finance business at Investsberbank (now OTP Bank).

George holds a Master’s degree in Computer Science from Princeton University and a Master’s degree with honors in Mathematics from Moscow State University.

Stanislav Bliznyuk

Member of the Board of Directors

Stanislav heads Tinkoff Bank and additionally oversees the development of Tinkoff Group’s ecosystem, business and products. Since joining the Company at its foundation in 2006, Stanislav has held a number of managerial positions, including Head of Business Technology and Innovation and Chief Operating Officer, while also initiating the launch of several business lines within Tinkoff Group.
Stanislav began his career developing a private telecom business and gaining experience in consulting before moving on to work in the banking sector, including at Raiffeisen Bank Austria.
Stanislav graduated summa cum laude from Moscow State University with a Master’s degree in Mathematics and Economics. He is currently completing the Executive MBA programme at London Business School.

Tinkoff Bank Management Board

Domicile

Russia

Regulator

Central Bank of Russia

Key functions

Determines the Bank’s asset, liability and risk management operations, policies and procedures Delegates individual risk management functions to each of the various decision making and execution bodies within the Bank’s risk management structure. The Chairman of the Management Board appoints members of the Finance, Credit, Technology and Business Development Committee. The Finance Committee ensures the long-term economic effectiveness and stability of the Bank’s operations. The Credit Committee supervises and manages the Bank’s credit risks. The Technology Committee decides the development path and architecture of the IT platform deployed in the Bank, as well large IT investment decisions. The Business Development Committee decides the development, design and marketing of the Bank’s financial products and recommends to the Bank’s risk management bodies changes to the Bank’s lending policies and procedures and the pricing of the Bank’s loan products

Relationship to other governing bodies

Reports to the Tinkoff Bank Board of Directors

Meetings in 2020

Members of Tinkoff Bank Management Board

Stanislav Bliznyuk

Chairman

Valeria Pavlyukova

Chief Legal Officer

Valeria has overseen all legal matters at Tinkoff Bank as Chief Legal Officer and Deputy Chairman of the Board since January 2017. Before joining the bank, she was Head of Legal for Sberbank’s international division and a Legal Director for InBev in Russia.

Valeria graduated from the International University in Moscow and studied finance at Hult International Business School.