Polymetal appoints Riccardo Orcel as chair

Anglo-Russian precious metals miner Polymetal has appointed Riccardo Orcel, former head of global banking at VTC Capital, as its new chair.

Earlier this month, Polymetal announced the departure of board members Ian Cockerill, Ollie Oliveira, Tracey Kerr, Italia Boninelli, Victor Flores and Andrea Abt following Russia’s invasion of Ukraine.

Last week, it named Janat Berdalina, Steven Dashevsky, Evgueni Konovalenko and Paul J. Ostling as non-executive directors.

It said on Tuesday that following its latest appointments, the board will consist of eight members, of which six are independent non-executive directors.

Orcel, who is the brother of Andrea Orcel, the chief executive of Italy’s UniCredit, has almost 30 years of experience in international management and leadership roles in various investment banks.

His latest position was managing director and vice chairman, head of global banking at VTB Capital. Prior to that, he worked at Merrill Lynch and Bank of America Merrill Lynch as managing director, member of the EMEA Executive Committee and head of Central Eastern Europe Middle East and Africa corporate and investment banking.