Bulgarian Development Bank (BDB) recently appointed Krassimir Angarski to its supervisory board.

The follows the stepping down of Kiril Ananiev, who recently became the minister of finance in the Caretaker government.

Angarski is an associate professor at the University of National and World Economy, his alma mater, which was called the Karl Marx Higher Institute of Economics when he attended. A Sofia native, he presided over both the city’s and the district’s tax offices as director, the culmination of a career with the Ministry of Finance that began in 1980. Angarski left the ministry to serve in the management of several state-owned enterprises and spent time as the executive director of the Bank Consolidation Co.

Between March and May 1997 he served as minister without portfolio under Stefan Sofiyanski and helped prepare the introduction of the currency board arrangement. He led the group that developed the currency board laws. From 2001 to 2004, Angarski served as secretary for economic affairs under President Petar Stoyanov, and was the executive director of DSK Bank. In the beginning of 2005, he took on the head position at DZI bank and two years later became an adviser for Post Bank.

Angarski’s predecessor on the BDB supervisory board, Ananiev, is no longer eligible to serve due to his position as minister of finance, as the ministry owns 99.9 percent of the bank’s capital.