Kazkommertsbank - one of the largest banks in Kazakhstan and Central Asia - has added Arif Babayev to the management board as the firm’s new managing director.

Kazkommertsbank - one of the largest banks in Kazakhstan and Central Asia - has added Arif Babayev to the management board as the firm’s new managing director.

In his new role, Babayev will focus on treasury, asset and portfolio management, liquidity management and dealing with client treasury and investment operations.

He joins KKB from RBS Kazakhstan where he served as deputy chief executive and a management board member since 2012. Prior to this, he was head of sales and trading at the RBS subsidiary, responsible for derivative solutions in all asset classes for corporates and FIs in Kazakhstan and Azerbaijan, as well as supervising trading activity in Kazakhstan.

Babayev has 10 years' experience from the financial services industry, having started as an FX trader at ABN AMRO Bank Kazakhstan and later progressing to the role of head of treasury.

According to the firm website, KKB is the largest private bank in Kazakhstan with a 24 per cent market share. In its latest quarterly report, KKB revealed strong results, with its net income up by 18.7 per cent to KZT23.3 billion ($150.7 million) compared to KZT19.6 billion in 2012, while total assets increased by 7.8 per cent to KZT2,635 billion as at 30 September 2013.