XACBANK APPOINTS AMARTUVSHIN HANIBAL AS PRESIDENT
XacBank, the 4th largest lender in Mongolia with an award winning corporate governance and Corporate Social Responsibility program, announces the appointment of Mr. Amartuvshin (Amar) Hanibal to the role of President effective from 10 July 2014.
Amartuvshin joins the Bank from Tenger Financial Group (TFG), where he has been for the past 3 years the Managing Director, overseeing corporate finance and insurance activities. He will continue to serve as the CEO of Tenger Capital LLC, where he played a pivotal role in building the company, establishing relationship with major corporations and successfully closing investment banking deals. He is a member of the TFG’s Executive Committee as well as TFG’s Lease committee. He is a non-voting member of the Investment Committee of TFG Board of Directors.
Amartuvshin has over 15 years of international experience in the banking industry, specifically in risk management, project finance, financial sponsor and leveraged finance. He has held various positions at ABN AMRO Bank in London, Amsterdam and Chicago. Prior to joining the TFG and XacBank, he has worked as the Managing Director, Head of Risk Management at JSC Kazkommertsbank (KKB), the largest commercial bank in Kazakhstan.
He earned a Bachelor of Business Administration from the European University of Brussels, Belgium and a Master of Business Administration from Harvard Business School, Boston, USA.
"We are delighted to welcome Amartuvshin to the Bank management team," said Bold, CEO of XacBank. "His international and local experience and expertise in the banking and financial services industry will benefit the Bank greatly as we aim to deliver more valuable and diverse financial services to our customers.”
XacBank (www.xacbank.mn) is one of Mongolia’s largest banks, serving Micro customers, Small and Medium-sized Businesses as well as large corporations with a range of inclusive banking, fair investment and other financial products and services. It operates in all 21 provinces and the capital city serving more than 600 thousand customers through its 107 branches and business service centers nationwide. The Bank aims to create a sustainable value for its customers, shareholders and institutional investors, while promoting a triple-bottom line vision and mission as built around the “Planet, People and Profit.”
XacBank is an undisputed leader in Corporate Governance, Transparency and Risk Management, and is best known for its world standard Corporate Social Responsibility implementations.
