According to Fixygen, participants in the National Depository of Ukraine (NDU) used a ranked voting system to determine the composition of the NDU Depository System Participants’ Council for the next two years, and the resulting composition was identical to the current council.
According to a statement by the National Depository on its website, 18 applications were submitted to participate in the election: 9 from depository institutions and 9 from issuers, and the 14 members elected to the council are the same individuals as two years ago.
Representing depository institutions on the Participants’ Council are Oleksandr Panchenko of Univer Capital LLC, who currently chairs the council; Ninel German of PUMB; Bogdana Yefremova from Raiffeisen Bank, Iryna Nesterenko from Injur Capital LLC, Oksana Danylyuk from VST Bank, Oleksandr Storozhuk from Smart Bond.UA LLC, and Olesya Pyatchanina from Citibank.
From issuers that are not depository institutions and asset management companies acting on behalf of corporate funds, the board includes Saad Shadi Muhammad from PJSC “Bakhmatske Beet Receiving Enterprise,” Serhiy Likhodid from the closed-end, non-diversified venture corporate investment fund (ZNVKIF) “Garant Capital,” managed by the asset management company “Trust Capital”; Serhiy Biryuk from “Yagotyn Butter Plant” LLC; Bohdan Lupiy from the PFTS Stock Exchange, Serhiy Rumpa from PJSC “Yuzhkokss,” Oksana Zaika from JSC “DTEK Zapadenenergo,” and Svitlana Yushchenko from JSC “Chernihivgaz Gas Distribution System Operator.”
It is noted that the first meeting of the newly elected body is scheduled for September 17. At that meeting, the chair of the council will be elected and the council’s future areas of focus will be determined.
The Participants’ Council is an advisory body established to protect and represent the interests of participants in the depository system. It consists of 14 members: seven representatives of depository institutions and seven representatives of issuers (other than depository institutions) and asset management companies acting on behalf of corporate investment funds.
Individuals nominated by participants in the depository system with whom they have an employment or contractual relationship may be elected to the Council with voting rights (one representative per legal entity). Members of other bodies of the Central Securities Depository, with the exception of the National Bank of Ukraine (NBU), may not serve on the Council.
