Mikhail Jernov has been made vice-president, banking, at the Black Sea Trade and Development Bank (BSTDB) for the term of three years.
At BSTDB Jerniov supervises project financing and trade finance operations. He replaced Valentina Siclovan who took up her duties as BSTDB vice president – operations.
Jernov has previously been a chief of department and an acting deputy director at the Market Research Institute of the Ministry of Foreign Trade of the USSR in Moscow. In 1992-96 he served the government administration of the Russian Federation as a first deputy head of the foreign economic relations division and a chief of foreign affairs division in charge of foreign trade and investments. He also coordinated activities of Russian inter-governmental commissions with the UK and US.
From 1996-99 Jernov was a director for the Russian Federation, Belarus and Tajikistan at the European Bank for Reconstruction and Development (EBRD). In 1999-2002 he headed Gazprom (UK) Limited in London. In 2002 he rejoined the EBRD as an alternate director for the Russian Federation, Belarus and Tajikistan and worked there until September 2004.