Artashes Terzyan holds a Ph.D. in mathematics from Moscow University (1988). He has worked for Ryston Investments, Chase Manhattan Bank, Tokai Bank Europe, Donaldson, Lufkin and Jenrette International, and Commerzbank. He was a Director and 16% owner of the holding company that controls Russian-based Investment Bank Trust and National Bank Trust. He sold his stake in January 2008 to Merrill Lynch. Both banks were once controlled by Group Menatep, associated with M.Khodorkovsky, and were subsequently acquired via management buyout. He was born in Armenia where he currently resides. Investment Bank Trust is one of Russia’s leading financial institutions and is ranked first by profit per employee and fourth by profit (Profile Magazine ranked No. 4 bank in 2003). The Bank is also ranked first by the ratio of profit before reserves to assets and the ratio of operating revenues to assets, making it the most efficient Russian bank (Interfax rankings published by Russky Fokus Magazine 2002). Securities Market Publishing House and the National Association of Securities Market Participants named Trust Bank the Bond Issuing Company of the Year. According to Banker Magazine, the Bank is ranked among the top 25 banks in Central and Eastern Europe and among the world’s 1000 largest banks based on 2002 results. Bloomberg ranks Trust 15th in its league table of advisors on mergers and acquisitions.