The board of directors of the Central Bank of the Russian Federation is facing notable changes as Ksenia Yudaeva, a long-time member and former deputy chair, is not expected to have her powers renewed for the upcoming term. These developments come from materials prepared for the meeting of the State Duma Committee on the Financial Market, dated for October 9, as reported by TASS with reference to the committee’s briefing.
Specifically, the committee appears to be considering an expansion of the authority for several existing board members aside from Yudaeva. Anatoly Aksakov, who chairs the State Duma Committee on Financial Markets, stated that Yudaeva will exit the Central Bank’s board in October. Interfax also reported his remarks about the plan to review and possibly elect seven new board members for the regulator during the October 9 session.
In Aksakov’s wording, the committee does not intend to approve Yudaeva’s continuation on the board. At present, the Central Bank’s board is chaired by Elvira Nabiullina and includes members such as Guznov, Mamuta, Chistyukhin, and Simanovsky. The leadership team also comprises first deputy governors Dmitry Tulin and Olga Skorobogatova, with deputy chairmen Alexey Zabotkin, Olga Polyakova, and Philip Gabunia. There is also an advisor to the bank’s head who is part of the board, namely Ksenia Yudaeva.
Earlier, Nabiullina had put forward a proposal to the State Duma to appoint three new members to the regulator’s board of directors, signaling a potential reshaping of the leadership structure. This move comes amid broader discussions about the bank’s governance and the balance of experience and renewal on the board.
The context for these changes includes ongoing considerations about how the central bank manages its international engagement and domestic financial stability, as well as how non-resident fund movements are treated in the financial system. Observers note that the board’s composition can influence policy direction and the bank’s response to evolving economic conditions, both in Russia and in relation to global market developments. The forthcoming vote and the committee’s recommendations are expected to shape the institution’s leadership trajectory for the next period, with implications for monetary policy implementation, financial regulation, and market confidence. These assessments reflect the committee’s role in providing oversight and strategic input on the regulator’s governance, operational priorities, and the caliber of its leadership. [citation: Interfax] [citation: TASS]