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Chairman of the Board of Directors – Deputy Prime Minister – Minister of National Economy of the Republic of Kazakhstan
Member of the Board of Directors – Representative of the sole shareholder
Member of the Board of Directors – Independent Director
Member of the Board of Directors – Independent Director
Member of the Board of Directors – Representative of the sole shareholder
Member of the Board of Directors – Chairman of the Management Board of the Development Bank of Kazakhstan JSC
Chairman of the Board of Directors – Deputy Prime Minister – Minister of National Economy of the Republic of Kazakhstan
Born in 1975
Citizen: Republic of Kazakhstan
Education:
Kazakh State Academy of Management (RK).
Employment information:
Awards: Medal «Yeren yenbegi ushin»
He does not own shares of the Bank, as well as shares and participation interests of legal entities that are suppliers and competitors of the Bank.
Member of the Board of Directors – Representative of the sole shareholder
Born in 1983
Citizen: Republic of Kazakhstan
Education:
Kazakhstan Institute of Management, Economics, and Forecasting (2004), International Business Academy, Master of Business Administration (2008).
Employment information:
Other positions held:
Member of the Board of Directors, Representative of the sole shareholder of Damu Entrepreneurship Development Fund JSC (from 2024/03/13);
Member of the Board of Directors, Representative of the sole shareholder of Development Bank of Kazakhstan JSC (from 2024/03/13).
Does not own any shares of Development Bank of Kazakhstan JSC and does not have a share of owned shares of affiliated companies, suppliers, and competitors of the company.
Member of the Board of Directors – Independent Director
Born in 1969
Citizen: United States of America
Education:
University of Oxford – Said Business School
• MSc in Major Programme Management (2016)
• Executive MBA (2011)
New York University
• BA – Political Science (Cum Laude) 1992
Employment history:
Prior to founding her own company M.Favale-Tarter, LLC and Blingby, LLC (2009-Present), Ms. Favale was a Managing Director, Head of LATAM and CEEMEA Credit Research at UBS (1998–2005) and a senior member of UBS’s global credit fixed-income research group as well as a member of UBS’s Emerging Market Credit Committee and a member of UBS’sEmerging Market Steering Committee. Ms Favale has the distinction of being recognized by global investors as The Outstanding Analyst of the Year for Emerging Markets Corporates: ranking published by Institutional Investor Magazine (2006). Ms.Favale has also worked at Merrill Lynch (1993–1998) at High Yield department and started her finance career at Banker’s Trust (1992–1993) focusing on Japan M&A. Ms. Favale has also had success as a portfolio manager at Brevan Howard and Advent Capital (2006–2007) and given her extensive knowledge in finance and investment and in devising development policies, participated in and contributed to the E15 meetings at the World Economic Forum.
Ms Favale teaches part-time at the Msc Major Programme Management graduate programme and a guest lectures on the private equity module at Said Business School, University of Oxford. In addition to Kazakhstan, Ms. Favale advises global investors and other governments through M.Favale-Tarter, LLC and founded a technology company, Blingby LLC that improves nation-branding and messaging. Ms. Favale has two MIT certificates: Artificial Intelligence: Business Implications and Blockchain Technologies: Business Innovation and Application and is a technology inventor awarded patents both in the United States and Kazakhstan.
Ms. Favale was the Senior Advisor to the Prime Minister of Kazakhstan from 2009 to 2013 when she devised and led the international benchmark bank restructuring BTA Bank and the restructuring of Alliance Bank and Temir Bank and Ms. Favale devised and created the concept and framework of the People’s IPO, a novel privatization programme designed to create a conduit of wealth to the people of Kazakhstan whilst developing the local capital markets. Ms Favale’s company M.Favale-Tarter, LLC was ranked alongside global investment banks Lazard and UBS for the CEE Restructuring Deal of the Year by Euromoney Magazine (2010).
Ms Favale has over twenty years in finance that include emerging market investment banking and portfolio management experience and extensive experience in Kazakhstan.
Since January 2015 – Independent Director and a member of the Board of Directors of Development Bank. Вy a decision of the Management Board of the Baiterek Holding dated March 13, 2024, she was re-elected to the same position.
Other positions held:
Chairman of the Audit, Risk Management, Strategic Planning and Corporate Development Committees, a member of the Nominations, Remuneration and Social Issues Committee.
Member of the Board of Directors, independent director of the Investment Council of the Republic of Kazakhstan.
Chairman of the Board of Directors of the African Development Organization.
Does not own shares of Development Bank of Kazakhstan JSC and does not have a share of owned shares of affiliated companies.
University of Oxford, Said Business School; Post-Graduate Diploma in Financial Strategy (one year course) 2010
Harvard Business School: Board of director related certifications (2017-2019)
• Harvard Business School: Making Corporate Boards More Effective
• Harvard Business School: Audit Committees in a New Era of Governance
• Harvard Business School: Risk Management
• Harvard Business School: Sustainable investing
Massachusetts institute of technology: Technology certifications (2018-2020)
• MIT Six Week Course: Artificial Intelligence: Implications for Business Strategy
• MIT Six Week Course: Blockchain Technologies: Business Innovation and Application
• MIT Six Week Course: Machine Learning: From Data to Decisions
• MIT Eight Week Course: Pricing: Using Data to Improve Pricing Performance
Featured as an expert on University of Oxford, Said Business School, Online Courses
Ms Favale is featured in University of Oxford Online Courses:
(1) Authenticity for Women Leaders| Oxford Women's Leadership Development Programme
(2) Oxford Private Markets Investment Programme I Private Equity
TEDX:
TEDx Southampton – Breaking Barriers, Empowering Women.
Awards and recognition:
• Finance Monthly Magazine Deal Maker of the Year Award 2013.
• Finance Monthly Magazine and Lawyer Monthly Magazine awards 2013.
• Advisor on the CEE Deal of the Year-BTA Bank restructuring (February 2010); Euromoney Magazine.
• The Outstanding Analyst of the Year (April 2006) by Institutional Investor Magazine for Emerging
Markets Corporates:
• Institute of International Finance (2010) wrote a report about the Kazakhstan Bank Restructuring noting the distinctive and defining role of the Independent Advisors.
• Independent Restructuring 2013 Global Award, the Independent Restructuring ACQ 2013 & 2014 Award and recognized alongside Lazard, Houlihan Lokey and White & Case by Finance Monthly Magazine and Lawyer Monthly Magazine for the 2nd restructuring of BTA Bank.
Publications:
• 'Risk, Recovery, and Empowerment'— a qualitative, investigative analysis, told by the author, a finance partitioner who devised and led the implementation of the over $30 billion Burden-Sharing Framework that became an international benchmark and redefined trade finance by introducing the term and analysis of 'true finance’.
• ‘Breaking the Mold’ — article on the benchmark Kazakh burden-sharing bank restructuring published in the Paris Club 2010 Annual Report.
• ‘Launch of the People’s IPO Is Good News’— article on the innovative Kazakh privatization programme, published in the Astana Times Newspaper October 2011.
• ‘Grasp The Chance’: The Business Year Magazine ‘Carried in Our Hearts’, Penguin, Contributing Author.
Member of the Board of Directors – Independent Director
Born in 1960
Citizen: Republic of Kazakhstan
Education:
Lomonosov Moscow State University (RF). Candidate of Economic Sciences.
School of Oriental and African Studies (SOAS) of the University of London (London, UK).
Employment Information:
From October 24, 2018, he was elected as an Independent Director and member of the Board of Directors of the Development Bank JSC. Вy a decision of the Management Board of the Baiterek Holding dated March 13, 2024.
Other positions held:
Chairman of the Nominations, Remuneration and Social Issues Committee, a member of the Audit, Risk Management, Strategic Planning and Corporate Development Committees.
Since 2021 – Ombudsman of «Development Bank of Kazakhstan» JSC.
Since February 2018 – Member of the Board of Directors, Independent Director of SB Bank Home Credit JSC.
Since 2019 – Member of the Board of Directors, Independent Director of Bank CenterCredit JSC.
Since October, 2022 – Member of the Board of Directors, Independent Director of Unicorn Holdings Limited JSC.
Member of the Board of Directors – Representative of the sole shareholder
Born in 1982
Citizen: Republic of Kazakhstan
Education:
KIMEP University NJSC, Almaty), bachelor of Business Administration and Accounting (2000–2004).Employment history:
Awards:
Does not own any shares of Development Bank of Kazakhstan JSC and does not have a share of owned shares of affiliated companies.
Member of the Board of Directors – Chairman of the Management Board of the Development Bank of Kazakhstan JSC
Born in 1984
Citizen: Republic of Kazakhstan
Education:
In 2005, he graduated with honors from T. Ryskulov Kazakh Economic University with a degree in Finance and Accounting. In 2004, he studied at the International Academy of Business, specializing in the management module of the MBA program (professional manager). In 2008-2009 he studied at the London Business School as part of the Bolashak international program, where he received a master's degree in finance (corporate finance).
Employment history:
Doesn't own shares of JSC «Development Bank of Kazakhstan» and doesn't own shares of affiliated companies, suppliers and competitors of the company.
The Audit Committee was created to facilitate efficient supervision by the Bank’s Board of Directors of financial and economic activities of the Bank, availability and operation of an adequate system of internal audit and risk management within the Bank, contribution to strengthening the internal and external audit.
Composition of the Committee:
М. Favale – Chairman of the Committee;
A. Saidenov – member of the Committee;
Zh. Shaikhy – member of the Committee.
The main aim of creating and activity of the Risk Management Committee is to assist the Board of Directors in implementation of its regulatory and supervisory functions in in terms of availability and functioning of an adequate risk management system within the Bank, to improve and strengthen the risk management system, as well as the risk analysis.
Composition of the Committee:
М. Favale – Chairman of the Committee;
A. Saidenov – member of the Committee;
Zh. Shaikhy – member of the Committee.
Committee on Staff, Remuneration and Social Issues of the Development Bank of Kazakhstan JSC is an advisory body of the Board of Directors which was created in order to improve the efficiency of the company development management by preparing recommendations to the Board of Directors in respect of staff and motivation policy, addressing issues of appointment and remuneration falling under competence of the Board of Directors.
Composition of the Committee:
A. Saidenov – Chairman of the Committee;
М. Favale – member of the Committee;
Zh. Shaikhy – member of the Committee.
The Committee was created to prepare recommendations for the Board of Directors in terms of determining key directions of activities (development), strategic goals (development strategy) of the Bank, including issues of development of activities enhancing efficiency of the Bank's activities in the mid and long-term perspectives.
Composition of the Committee:
М. Favale – Chairman of the Committee;
A. Saidenov – member of the Committee;
Zh. Shaikhy – member of the Committee.
For the effective organization of work, the Board of Directors has established 4 permanent committees for risk management, audit, personnel, remuneration and social issues and strategic planning.
The activities of all committees are governed by internal documents approved by the Board of Directors containing provisions on the composition, competence, procedure for electing committee members, the procedure for work of the committees, and the rights and obligations of their members.
