VTB opens Bulgaria office, picks ex-FinMin as CEO

VTB Capital, the investment banking arm of Russian bank VTB, has launched a Bulgarian operation, appointing a former finance minister to run it. Milen Veltchev was Bulgarian finance minister from 2001 to 2005, before which he had been a relationship manager on Merrill Lynch’s emerging markets sovereign debt team since 1995. He will be CEO of the new business, based in Sofia.