Shareholders of "Zoos" bank, fifth largest bank of 16 commercial banks of Mongolia appointed Mr.Benjamin Turnbull, American national as CEO replacing Ms.Chudanji, Mongolian national.The move is triggered by European Bank of Reconstruction and Development (EBRD), which owns 25%+1 share of the bank.
According to its website (www.zoosbank.mn), the decision was made according to the bank restructuring plan.CEO Benjamin Turnbull said " new management team comprised of international and mongolian bankers will introduce best banking practices of the world to the Zoos bank and we are confident that the bank will overcome current economic crisis through this move." Mr.Benjamin Turnbull was COO of Khan Bank (Agricultural Bank of Mongolia) under Peter Morrow, the CEO during early 2000. Currently, large commercial banks of Mongolia as Golomt (John Patrick Finigan) and Khan Bank (Peter Morrow) and Trade and Development Bank (John Coppa) have international bankers as CEOs.
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