Former financial market regulator Vyugin joins Alfa Capital board

MOSCOW. Dec 11 (Interfax) - Oleg Vyugin, who headed Russia's former Federal Financial Markets Service, has been elected to the board of directors of Alfa Capital as an independent director.

Vyugin will be involved in the formation of Alfa Capital's long-term strategy, the implementation of government relations initiatives, and development of ideas for the growth of focus business areas and the expansion of product offerings, the asset management company said in a press release.

"Amid the growth of a business's scale, market participants face new challenges related, among other things, to the modernization of regulation and transformation of infrastructure. I welcome the opportunity to make my contribution to the development strategy of one of Russia's leading management companies," Vyugin was quoted as saying in the press release.

Vyugin stepped down from his position as chairman of the National Association of Stock Market Participants (NAUFOR), which he had held since 2010, in October 2024. In the period from 1994 to 2007, he served as first deputy finance minister of Russia, first deputy governor of the Central Bank of Russia and head of the Federal Financial Markets Service.