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Oleksii Lupin Appointed to Director of Open Market Operations Department

Oleksii Lupin Appointed to Director of Open Market Operations Department

On 16 October 2020, Oleksii Lupin was appointed Director of the Open Market Operations Department of the National Bank of Ukraine (the NBU), based on the results of an open selection process to fill the relevant position.

The incoming Director of the Open Market Operations Department will be in charge of:

  • monitoring, analyzing, and forecasting the performance of the domestic and external financial markets
  • regulating the banking system’s liquidity and performing FX interventions
  • managing international reserves, etc.

The Open Market Operations Department, which is part of the Market Operations function, answers directly to NBU Deputy Governor Yurii Heletii.

The continuous and efficient operation of financial markets is one of the key aspects of microfinancial stability in the country, Yurii Heletii emphasized in a comment on this appointment.

Comprehensive knowledge of the Ukrainian and international financial markets regulation, in-depth understanding of the interbank FX market’s operation and the FX interventions mechanism, expertise in bank treasury operations, operations with FX-denominated securities, currency and interest rate futures, and repo and swap agreements were acknowledged as Oleksii Lupin’s considerable advantages during the open competition for this post, Yurii Heletii said.

"I think that Oleksii Lupin’s high professionalism, systemic approach, and analytical mind will enable him to achieve considerable results in managing the FX and money markets,"  Yurii Heletii pointed out.

For reference:

Oleksiy Lupin has substantial practical experience managing international reserves, FX policy, and financial instruments.

From August 2020, Oleksii Lupin has been Acting Director of the Open Market Operations Department. In the six years leading up to his new appointment, he worked as Head of the Financial Market Transactions Division of the same Department.

In general, Oleksii Lupin has been working in the NBU since 1998. He started his career in 1996 as an FX operations dealer in Ukrnaftogazbank OJSC.

Oleksii Lupin has a complete higher education. He graduated in 1997 from the Kyiv National University of Trade and Economics (majoring in Finance and Credit). In 2002 he earned a Ph.D. in Economics from the Academy of the State Tax Service of Ukraine. In 2005 he received a Chartered Financial Analyst (CFA Charterholder) diploma from the CFA Institute in the U.S.


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