Supervisory Board

Tzvetelina Borislavova – Chairman of Advisory Board
Tzvetelina Borislavova – Chairman of Advisory Board

Tzvetelina Borislavova was appointed member of the Supervisory Board of BACB at the extraordinary general meeting of shareholders, held on July 5, 2011. She was appointed Chairman of the Supervisory Board the same month.

Tzvetelina Borislavova has been CEO and Chairman of the Board of Directors of CSIF AD, a major shareholder in BACB  since 2005. CSIF AD is a private investment company, whose sharehoders today are Tzvetelina Borislavova and Credo Bonum Foundation she founded. CSIF AD invests in areas that are traditionally strong and with priority to Bulgaria, as well as in innovative environment protection technologies in energy industries and agriculture.

Tzvetelina Borislavova was Chairman of the Supervisory Board of CIBANK AD from 2001 to 2010. She held management positions in several leading Bulgarian companies, and was involved in the management of non-profit organizations.

Tzvetelina Borislavova holds a master degree in "International Economic Relations and Foreign Economic Activities" at Karl Marx Higher Institute of Economics, Sofia and master degree in Spanish Philology at Sofia University ‘St. Kliment Ohridski’.

Serge Lioutyi

Serge Lioutyi was appointed as a member of the Supervisory Board of BACB at the extraordinary general meeting of shareholders held on September 29, 2017.

Mr. Lioutyi has ten years of investment, research and trading experience.

Since 2016 he has been working in Grammercy, a global emerging markets investment fund, established in 1998. He is responsible for researching and recommending investment opportunities with a primary focus on emerging markets distressed and performing corporate credits in CEEMEA for Gramercy's global investment activities in London. Additionally, Mr. Lioutyi also serves on the Investment Committee at Gramercy.

Prior to joining Gramercy in 2016, Mr. Lioutyi served as Head of CEEMEA Investments and Portfolio Manager at CarVal Investors in London. Prior to CarVal, Mr. Lioutyi spent two years at Deutsche Bank as CEEMEA High Yield/Distressed Principal trader in London.

Before Deutsche Bank, Mr. Lioutyi was a CEEMEA Distressed Trader at Citi in London. Prior to Citi, Mr. Lioutyi spent three years as and emerging markets Corporate Credit Analyst at Barclays Capital.

Mr. Lioutyi received a Bachelor's of Science with Honors in Physics from the University Imperial College of Science, Technology and Medicine in London.

Martin Ganev

Martin Ganev was appointed member of the Supervisory Board of the Bank at the extraordinary general meeting of shareholders held on July, 5th, 2011.

Mr Ganev was Executive Director of CSIF AD from 2007 to 2009. During this period he was also Chairman of the Board of Directors of Despred AD. In the period 1999 - 2007 Mr. Ganev was First General Director Deputy of Economy and Finance at Lukoil Bulgaria EOOD, and from 2000 to 2008 he was member of the Board of Directors of PIC Lukoil Bulgaria AD. In the period 2001 – 2002 he was member of the Board of Directors of Lukoil Neftochim Bourgas AD. From 1993 to 1999 Mr. Ganev worked as Corporate Finance Manager at PricewaterhouseCoopers.

Mr. Ganev holds master degree in Economics at Moscow International Relations State University and qualified ACCA by the standards of England and Wales.