Yandex.Money To Announce Executive Changes
March 1, 2017
Ivan Glazachev, who previously served as the Executive Director and Member of the Board at Russian Standard Bank, is joining Yandex.Money as the CEO. Maria Gracheva, the previous CEO of Yandex.Money, continues working for the company and will now serve as the Business Development Director. Her focus shifts to various Fintech projects and expansion into new markets.
Yandex.Money also announces changes to the Board. Lev Khasis, Elena Baturova, Vladislav Kreynin and Irene Shvakman are now serving as the board directors on behalf of Sberbank, whereas Alexander Shulgin, Evgeniya Zavalishina and Mikhail Parakhin are serving as the board directors on behalf of Yandex.
‘Yandex.Money is currently the leading online payment service in Russia, both as an e-wallet for consumers and a payment service provider for businesses. Maria Gracheva is a remarkable leader who has been responsible for a great portion of Yandex.Money success over the years,’ says Alexander Shulgin, Chief Operating Officer at Yandex in Russia. ‘Maria has been leading different teams at Yandex.Money for over a decade and has acquired very deep knowledge of the industry. We appreciate her achievements and hope that the new CEO will ensure that Yandex.Money not only continues to lead the way in online payments, but also expands its activities. Eventually, this will help us create an ecosystem to forecast and fulfill all payment needs of companies and individuals in different life and business situations’.
‘Yandex.Money has an important goal to achieve — not only does the company need to meet the time challenges and market demands but also to stay ahead of the curve, developing convenient and innovative services for both businesses and individuals,’ says Lev Khasis, First Deputy Chairman of the Executive Board of Sberbank Russia. ‘We expect that Ivan Glazachev’s experience and knowledge will be useful for company’s clients and make a positive contribution to its business’.
Ivan Glazachev has been working in the industry of merchant acquiring and payments for more than 13 years. He spent the last 10 years at Russian Standard Bank and became a member of the Board in 2012. He served as the Executive Director responsible for acquiring department and transactional business. With his active participation, Russian Standard Bank became the third biggest player in acquiring industry in Russia and developed and implemented the biggest white label card-to-card money transfer platform, which is now used by many commercial organizations in Russia. Furthermore, the Bank relaunched its mobile and online banking solution. Ivan holds an MBA in investment and corporate finance from Toronto’s Schulich School of Business at York University and a bachelor’s degree in international economics from Moscow State University of Commerce.
Yandex.Money is the largest electronic payments service in Russia, according to a 2016 survey by TNS. The service is the joint venture of the search engine Yandex (NASDAQ: YNDX), and Sberbank. Yandex.Money offers consumers easy, safe, and reliable methods of paying online on its own site and mobile app. The service hosts about 30 million user accounts with about 15,000 new accounts opened daily.
Yandex.Money also offers online merchants Yandex.Checkout. The service allows merchants to accept all the online payment methods most popular among Russians: credit cards, e-wallets, mobile billing through the top Russian providers, and cash via over 250,000 cash-acceptance points all over the country and CIS. Currently, more than 76,000 online stores across the globe use Yandex.Checkout.