OREANDA-NEWS. On July 31, 2007 Paul Batchelor appointed Chief Executive Officer of Home Credit & Finance Bank (HCFB) [Moody's Ba3/NP/D-, S&P B+/В], reported the press-centre of HCFB.

Paul Batchelor has been appointed Chief Executive Officer of Home Credit & Finance Bank in Russia. In this position Mr. Batchelor will be responsible for the strategy of HCFB in Russia and business operations including the investment policy of the Bank.

Mr. Batchelor, a chartered accountant, has more than 20 years of global financial services experience. His previous roles included Chief Executive Officer of AMP Limited, a leading Australian banking, insurance and wealth management provider operating in 20 countries and with annual revenues of US$30 billion and Group Chief Financial Officer of Colonial Limited, an Australian financial services group with insurance, pensions, asset management and banking divisions operating in 12 countries and with annual revenues of US$10 billion. Prior to entering the banking and insurance industry in the early 1980s Mr. Batchelor was a partner of an international accounting firm. Most recently Mr. Batchelor served as Chairman and Board Member of several companies and also acted as a venture capital investor.

Commenting upon this appointment, Jiri Smejc, Chairman of HCFB Board of Directors, said: "I am very pleased that a senior business leader such as Paul Batchelor has decided to join Home Credit & Finance Bank as Chief Executive Officer. This confirms the strategic attractiveness of our business model. I am sure that Mr. Batchelor's international experience and leadership skills will enable HCFB to achieve its strategic objectives including the recently announced strategic partnership of PPF Group with NOMOS BANK. I believe that HCFB, together with NOMOS BANK, has all the capabilities to be a major universal banking group providing services to both our retail and corporate customers in the Russian market".

Paul Batchelor said "I am impressed by the business base that HCFB has built in Russia in a short period of time. This will be enhanced by the recently announced strategic partnership of PPF Group with NOMOS BANK. As a major universal banking group in the Russian market we are will be well placed to continue to grow the group in one of the most attractive banking markets in the world. With combined assets in excess of US$6 billion, the newly established group will be a top 15 banking group in Russia".

Reference:
Home Credit & Finance Bank (Moody's Ba3/NP/D-, S&P B+/В) has been in the Russian consumer retail market since 2002.

The Bank is a member of Home Credit Group, which has been operating in the consumer crediting market of Eastern Europe since 1997 and also is a part of the PPF international group of companies which is active in the markets of insurance and credit services and also provides comprehensive servicing in assets management.