May 5 (SeeNews) - Bulgaria's First Investment Bank [BUL:5F4] said on Friday it has appointed Nedelcho Nedelchev as its new chief executive officer (CEO) in line with the strategic plan for the bank's development.
"Nedelchev will have a leading role in discussing the strategic options for the bank under the plan with Citigroup Global Markets," First Investment Bank (Fibank) said in a statement.
Last week, Fibank said it had hired Citigroup Global Markets as financial advisor in exploring strategic options for the bank's development, which might include strategic partnerships and/or consolidation, a capital increase via a new share issue, or attracting new key investors.
Nedelchev has also become member of the bank's board of directors.
Vassil Hristov, the current CEO of Fibank, will continue his career with the bank as chief retail banking officer.
Fibank is Bulgaria's third largest lender by assets, which stood at 8.8 billion levs ($4.9 billion/4.5 billion euro) as of March 31, according to Bulgarian National Bank data.
Its shares were trading 1.5% lower at 5.900 levs as of 15:40 CET on the Bulgarian Stock Exchange. A total of 1,015 Fibank shares had changed hands by that hour.
(1 euro = 1.95583 levs)
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