Russia’s export credit agency Exiar has appointed Alexey Tyupanov as its new CEO, succeeding Peter Fradkov.

Tyupanov has worked at Exiar since its creation in 2011, most recently as member of the board and managing director of business development and underwriting.

Before that, he worked, amongst various positions, as head of the debt finance division at Vnesheconombank (VEB), director of debt capital markets and financial institutions at Eurocommerce and head of funding and investor relations at Bank of Moscow.

He started his new role at Exiar on December 31, 2014.

Fradkov had been the agency’s CEO since its creation. He moves to VEB, Exiar’s sole shareholder, to become first deputy chairman, a role in which he will continue to oversee the Russian export support system.