Sergey Ignatiev retires from Bank of Russia on 31 March 2022

Sergey Ignatiev headed the Bank of Russia in 2002–2013; since 2013 he was an Adviser to the Bank of Russia Governor and a member of the Bank of Russia’s Board of Directors.

Bank of Russia Governor Elvira Nabiullina: ‘Mr Ignatiev laid the foundation for the development of a modern financial system. Thanks to his efforts, a deposit insurance system was created, a procedure for the reorganisation of banks and advanced approaches to banking regulation were introduced.  Mr Ignatiev paved the way for the transition to inflation targeting.  He had to go through two large-scale crises — the 2004 banking crisis and the 2008 global financial crisis, and the Bank of Russia, under his management, was able to maintain the efficiency of the Russian financial system in extraordinary circumstances.  The team of the Bank of Russia, both those who have been working for many years and those who have joined the Bank recently, has great respect for his highest professionalism, exceptional human decency, calmness and prudence. I am very grateful to Mr Ignatiev for the experience and knowledge that he has shared with me throughout the years we worked together.’

The reference to the Press Service is mandatory if you intend to use this material.

28.03.2022 17.10.00