Mikhail Mamuta appointed Bank of Russia Deputy Governor
Mikhail Mamuta has been appointed Bank of Russia Deputy Governor, effective June 10, 2026. He will oversee two newly reorganized units for consumer protection and conduct supervision.
Mamuta Ascends, Units Realigned
Mikhail Mamuta, a current member of the Bank of Russia Board of Directors, has been appointed as Bank of Russia Deputy Governor, effective June 10, 2026.
This promotion follows his tenure as head of the Service for Consumer Protection and Financial Inclusion.
In a concurrent move, this service will undergo a significant reorganization, splitting into two new structural units: the Service for Consumer Protection (SCP) and the Conduct Supervision Department (CSD).
These changes are designed to enhance operational efficiency and streamline decision-making in their respective domains.
Ekaterina Butova will take on the role of Acting Head of the SCP, while Sergey Kolganov will be appointed as Acting Director of the CSD.
Both previously served as Deputy Heads of the former combined service.
Deputy Governor Mamuta will oversee the activities of both the newly formed SCP and CSD, ensuring strategic coherence and effective implementation of their mandates.
The original Service for Consumer Protection and Financial Inclusion is scheduled for abolition in December 2026, marking a complete transition to the new, specialized structure.
Specialized Focus for Enhanced Oversight
The reorganization aims to create a more specialized and efficient framework for consumer protection and conduct supervision.
The Service for Consumer Protection (SCP) will now combine regulatory and analytical functions in consumer protection, interaction with consumers, and financial literacy and inclusion.
This consolidation is designed to streamline efforts in safeguarding consumer interests.
Concurrently, the Conduct Supervision Department (CSD) will focus exclusively on reactive and preventive conduct supervision, along with providing essential methodological support for these activities.
This clear division of responsibilities is expected to significantly enhance the work efficiency in both areas and accelerate decision-making.
The Bank of Russia emphasizes that these structural adjustments are crucial for strengthening its capacity to oversee market conduct and ensure a robust protective environment for financial consumers.
Targeted Oversight, Clearer Mandate
This restructuring clarifies responsibilities, moving beyond a broad mandate to specialized units.
While the immediate impact is organizational, it signals a commitment to more focused and potentially more effective supervision.
For market participants, this means clearer expectations and a more agile regulatory response from the central bank.