Kazakhstan Chamber of Commerce in the USA


Pension fund changes top manager

Posted on October 23, 2011 by Alex

Malik Esenbayev was appointed acting CEO of Kazakhstan’s UlarUmit pension fund on October 13, the fund said in a statement published on its website.  Esenbayev replaced Gulnara Alimgazieva who had been dismissed by Ular Umit’s Board of Directors effective on October 12.

UlarUmit is a wholly-owned subsidiary of BTA Bank, Kazakhstan’s third largest bank.  BTA acquired the fund in 2010 and merged it with its BTA Kazakhstan Pension Fund in May to create the second largest pension fund in Kazakhstan with a market share of roughly 20%.

SOURCE: Kazakhstan Daily News Brief, October 18, 2011

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