Azerbaijan, Baku, March 5 / Trend /
JP Morgan Emerging Market Director Victoria Miles joins AccessBank's Supervisory Board, the Bank said today.
Ms Miles is also head of strategy for Central and Eastern Europe and Middle East and Africa corporate research and the senior credit research analyst for Emerging Markets Financial Institutions in JPMorgan.
Ms Miles is viewed as a specialist in banking sector systemic risk issues within emerging markets and was ranked number one in the Euromoney Poll for emerging markets credit research in 2008 and 2009. Ms Miles replaces Oksana Pak, from EBRD, who resigned from the Supervisory Board due to increasing other commitments.
Michael Jainzik, Chairman of AccessBank's Supervisory Board, welcoming Ms Miles' appointment, said: "Ms Miles's expertise in the banking sector of East European and Central Asian transformation countries will be of great value to the board and AccessBank, we are delighted that she is joining the board."
Ms Miles, responding to the announcement, said: "As a researcher, I now look forward to playing a direct role in the development of such a successful and fast-growing institution as AccessBank and an institution that is playing such an important role in the development of small business and the economy of Azerbaijan."
AccessBank is the highest rated bank in Azerbaijan by Fitch Ratings (BB+ Long-Term IDR and D individual rating) and is 100% foreign owned by six international financial institutions: the European Bank of Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, KfW Development Bank - the Development Bank of the German Government (20% share each), AccessHolding - a strategic investor in microfinance (16.5%), and LFS Financial Systems GmbH - a German consulting company (3.5%).