Monday, Jan 22, 2024

Toronto Centre Board Chair Stefan Ingves named advisor to the National Bank of Ukraine

Stefan Ingves, Chair of Toronto Centre’s board of directors, has joined a team of pro-bono special advisors to National Bank of Ukraine (NBU) Governor Andriy Pyshnyy.

The team will provide expert advice to Governor Pyshnyy, who faces the extraordinary challenge of maintaining a modern financial system in a nation that is defending its territory against an invasion that includes indiscriminate missile attacks on major cities.

Announcements of the appointment were made on Friday in Facebook posts by Governor Pyshnyy and the NBU.

Governor Ingves commented: “I am privileged to support Governor Pyshnyy and the staff of the NBU in their work to maintain the financial stability of Ukraine and the defence of its people.”

Toronto Centre has been an active supporter of Ukraine since the 2022 invasion. We proactively engaged with the NBU immediately to offer specialized training and guidance on crisis preparedness, including cyber-risks. We offered this support through scholarships (supported by our partners at Sveriges Riksbank and the Canada Deposit Insurance Corporation).

“Toronto Centre is proud to support our dedicated colleagues at the NBU as they fight to maintain a functioning financial system under these appalling conditions,” said Toronto Centre CEO Babak Abbaszadeh. “The invasion of Ukraine is not only a violation of international law – it has shaken financial systems worldwide, worsened geopolitical tensions, and threatened food security for millions of people around the globe.”

Read the Toronto Centre’s earlier, in-depth interview with the former governor of the NBU in April 2022, soon after the start of the invasion.