Rozhkova leaves NBU, Nikolaychuk takes over as First Deputy Governor
Photo: NBU

First Deputy Governor of the National Bank of Ukraine Kateryna Rozhkova stepped down on August 15 upon the completion of her seven-year term. She was succeeded by Serhii Nikolaychuk, formerly a deputy governor of the NBU, according to the regulator’s website.

Rozhkova had served as First Deputy Governor since June 2018 and as a member of the NBU Board since January 2016.

During her tenure, the NBU saw four governors: Valeria Gontareva, Yakiv Smolii, Kyrylo Shevchenko, and Andrii Pyshnyi. Together with her team, Rozhkova played a key role in the rehabilitation of the banking system in 2015–2017, the reform of the non-banking financial sector, and strategic projects to align Ukraine’s financial regulation with EU standards.

Serhii Nikolaychuk has been Deputy Governor since July 2021, overseeing the Monetary Stability Unit. He will now also head the Financial Stability Unit.

From 2004 to 2019, Nikolaychuk advanced from economist to director of the NBU’s Monetary Policy and Economic Analysis Department. Between September 2019 and April 2020, he served as Deputy Minister of Economic Development, Trade and Agriculture of Ukraine. From April 2020 to July 2021, he was Head of Macroeconomic Research at ICU Group.

  • The NBU Board is composed of seven members: the Governor, the First Deputy Governor, and five Deputy Governors. At present, only four deputy positions are filled: Yuriy Heletiy, Yaroslav Matuzka, Dmytro Oliynyk, and Oleksiy Shaban.