Dragica Pilipovic-Chaffey has been appointed director for Serbia and Montenegro at the European Bank for Reconstruction and Development (EBRD) while Victor Pastor has been appointed director for Russia in her stead.
Pilipovic-Chaffey, who has been the bank’s director for Russia since 1999, replaces Henry Russell, who became the new deputy director for municipal and environmental infrastructure.
Pilipovic-Chaffey had a distinguished three-year tenure as director for Russia during which the bank’s annual Russian commitments rose from €217mn to a record high of €1.2bn in 2002. Previously she was a director in the financial institutions team in London.
Pilipovic-Chaffey previously worked for the ministry of finance of the former Yugoslavia, the World Bank and the International Monetary Fund before joining the EBRD in its founding year, 1991.
Pastor, who is Spanish, has been director in the financial institutions group for bank equity for the past two years. He joined the EBRD in 1995 from Banco Santander in Madrid, where he was responsible for financial sector lending and investment activities in emerging markets. Previously, Pastor was manager of the financial and capital markets division of Arthur Andersen in Madrid. In his new position, he will report to Hubert Pandza, the EBRD’s business group director for Russia and Central Asia.