Bulgarian Cabinet appoints new deposits guarantee fund chief

Bulgaria’s Government approved the appointment of Radoslav Milenkov as chairperson of the managing board of the state bank deposit guarantee fund, the Cabinet’s media service said on November 19.

Milenkov replaces Rossen Nikolov, who had asked to be relieved of his duties, the statement said. Nikolov had been appointed by the previous government of Prime Minister Boiko Borissov in March 2011.

Mlenkov holds a master’s degree in finance from the University of National and World Economics in Sofia and began his career as an investment intermediary and auditor at Deloitte & Touche Bulgaria, the Cabinet statement said. He joined First Investment Bank in 2003 and held several managerial positions, including on the lender’s board of directors, before leaving in 2011 to become chief executive officer of the Municipal Bank.

His appointment as head of the deposit guarantee fund comes at the same time as the fund is preparing to begin payouts to depositors in the Corporate Commercial Bank (CCB), scheduled to start on December 4.

(Photo: Clive Leviev-Sawyer)



The Sofia Globe staff

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